800 thousand barrels per day.. “Lukoil” increases its oil production in Iraq
800 thousand barrels per day.. “Lukoil” increases its oil production in Iraq
2023-11-04 03:00
Shafaq News/ The Russian company “Lukoil” announced on Saturday that its production would gradually increase to reach 800 thousand barrels per day.
Lukoil said in a report seen by Shafaq News Agency, that the agreement stipulates better terms and an extension of the service contract for 10 years (until 2045), and that investments are made in continuing to develop the project.
She noted, “The field brought new multi-well platforms into production, operated oil processing facilities and complex gas processing facilities for the Yamama Formation, and established export pipelines and water flooding units, as well as expanding the reservoir battery.”
He stated that Lukoil “is the operator of the West Qurna 2 field with a 75% stake and the rest is owned by the state-owned North Oil Company. Iraq’s production capacity is less than 5 million barrels per day, but it seeks to enhance this capacity to 7 million barrels per day in the next two years with the help of oil companies.” Globalism.
shafaq.com
