Russian Deputy Energy Minister Kiril Moldetov discussed with Iraqi officials the project of the “Badra” field of Gazprom Oil in Iraq and prospects of other projects in the Iraqi oil and gas sectors.
According to the Russian Energy Ministry, “the talks focused on the implementation of the Badra project with the expertise of Gazprom Oil, the prospects of Russian companies’ contribution to other energy projects on the territory of Iraq, as well as ways to restore Restoration and modernization of an electric power plant in Iraq “.
It is noteworthy that the field “Badra” oil is located in the province of Wasit, Iraq and estimated geological reserves of 3 billion barrels.
The deal between the two sides in 2010 to exploit the field mentioned by a consortium of companies, including “Gazprom Oil” as a Russian operator of the project and share 30%, and the company “Kokaz” South Korea with a share of 22.5%, and Turkish oil with a share of 7.5%, and that the Iraqi government In this union “Oil Exploration” by 25%.
Commercial oil shipments started from the Iraqi “Badra” field since August 2014, while the field currently operates on three wells, and three other wells are being drilled.