Gasprom Oil extracted first million barrel of oil in Iraqi Kurdistan

Gasprom Neft Middle East, daughter company of Gasprom Oil, which has been implementing geological exploration projects in the Kurdish region of Iraq within the framework of a joint venture with Canadian Western-Zagros Resources company, which is the operator of Sarqala field, has extracted the first million barrels of commercial oil. It is planned that till the end of the year oil extraction on this field will total 1.5 million barrels.

First oil from Sarqala field (Garmian bloc) was extracted in 2011 as  a part of the experimental commercial works and test of the beds.

Commercial production started in February 2015. Production on Sarqala-1 field totals about 5,000 barrels of oil a day. Oil gets into the installation located close to the well. Then tank oil is delivered to the plant in Bazian city.

In Iraq Gasprom Neft is involved in four projects, three of which are located in the Kurdish region of Iraq.

Gasprom Neft Middle East owns shares in Halabja, Shakal and Garmian blocs. Gasprom Neft’s share in Halabja and Shakal blocs constitutes 80% (the remaining part is owned by the government of the Kurdish region). Share of Gasprom Oil in Garmian bloc constitutes 40%. The fourth project of Gasprom Neft in Iraq is development of Badra field located in Vassit province on the east of Iraq. According to the preliminary estimates, geological resources of Badra total 3 billion barrels of oil. Gasprom Oil is operator of the project and owns 30% share. The commercial production in Badra started in August 2014.—0—