Gazprom Neft Signs Contract to Develop Badrah Oil Field in Iraq
OREANDA-NEWS. February 02,
The contract was signed following the results of the tender held on December 12, 2009 and won by a consortium led by JSC Gazprom Neft including also
The project on the Badrah oil field development is scheduled for twenty years with a possibility of a five-year prolongation. The oil-rate plateau is expected to make about 170,000 bpd. The works are expected to be launched in 2010, and total project investments will reach about USD 2 bln.
Under the contract, following the achievement of 15,000 bpd of initial recovery, Gazprom Neft will be remunerated at the rate of USD 5.5 per a produced barrel of oil (or in the form of adequate volume of oil). The above figure is expected to be hit in late 2012 – early 2013, while getting to the production plateau oil rate is expected in 2016.
“Implementation of the project to develop the Badrah oil field is a key stage in the Company's development in the international markets. With the start of work in
The Badra oil field is located in Wassit province in the east of
Комментарии