Lukoil Finds Oil at Iraq Well

Lukoil revealed Wednesday that it has hit oil at the Eridu 1 exploration well in southern Iraq’s Block 10.

The Russian oil company and Japanese oil company Inpex successfully completed the testing of the well, which recorded a daily flow rate of more than 1,000 cubic meters of oil from the Mishrif horizon.

This find confirms geological expectations of a large hydrocarbon field presence within the Block 10 contract area, Lukoil said.

Geological exploration at the block is currently in progress and the work program for 2017 includes the drilling and testing of an additional appraisal well, Eridu 2.