Russian company announced a huge oil discovery in Iraq
Russian company announced a huge oil discovery in Iraq
02/22/2017
“Lukoil” Russian said she successfully completed in cooperation with the company “Inpex” Japanese first extraction process of crude oil, low-sulfur in the “exploratory patch X” in southern Iraq.
And it showed “Lukoil” in a statement published Wednesday February 22 that the unit X contains large reserves of oil and gas, and that the discovery helped to get the flow rate of oil more than 1,000 cubic meters per day, which confirms previous geological studies.
In turn, the Iraqi Oil Ministry said that oil reserves to patch represents a new addition to Iraq’s oil reserves, indicating that this area was one of the fields, which have contributed to add the amount to 10 billion barrels of oil reserves.
The director general Karim Hattab oil exploration company, to a consortium of “Lukoil” and “Inpex” has resulted in the discovery of huge oil reserves.
The coalition won “Lukoil” and “Inpex” in 2012 a license to develop the patch exploratory “X” in the province of Basra. Russian company’s share in the project is 60%, compared with 40% owned by the Japanese company.
In addition to the field work, “Lukoil” to develop “West Qurna-2″, after winning with the company “Statoil” Norwegian in 2009 right field, the largest field in the Iraq investment field.
burathanews.com
