LUKOIL's West Qurna-2 production above 200,000 bopd

Jun 11, 2014 12:00 AM

LUKOIL Overseas has informed Iraq’s Ministry of Oil that it has fulfilled its contractual obligations for first commercial production at West Qurna-2.

LUKOIL, the Operator of the West Qurna-2 project, successfully maintained an average daily production of at least 120 thousand barrels for 90 days, entitling it to begin recovering costs and receive remuneration.

Daily oil production at West Qurna-2 is currently above 200 thousand barrels.

'The West-Qurna-2 project is developing at a fast pace, and production is going up.

As of today, the project has reached another milestone by paving the way for LUKOIL to receive contractual remunerations.

Timely cost recovery for the Early Oil phase will enable the Operator to proceed to active implementation of the subsequent phases of the field development,' said Andrey Kuzyaev, Vice President of LUKOIL and President of LUKOIL Overseas.

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« September 2019 »
September
MoTuWeThFrSaSu
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30

Register to announce Your Event

View All Events