The well No 139 drilled on Western Kurna-2 field in Iraq has had a flow of a high quality light oil, reported LUKoil Overseas, operator of LUKoil’s international projects.
The US Baker Hughes company is the drilling contractor and Chinese ZPEC is the sub-contractor.
The oil flow will be directed into the torch before the installation is put into operation.
Western Kurna-2 field is the second world biggest undeveloped field, extractible oil resources of which total 14 billion barrels.
“LUKoil has 75% share in the Western Kurna-2 project, Iraqi North Oil Company – 25%. LUKoil intends to start commercial oil production on the field in early 2014. In February 2013 the company agreed to reduce the oil production on the Western Kurna-2 and during ten years investments into the project will total $26 billion.
The oil production on the field totals 1.2 million barrels of oil a day (60 million tons a year), the term of the contract is 25 years. The maximum production level is expected to be reached in 2017, reported http://www.vestifinance.ru. –0--
Economics
-
The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
-
Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
-
Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
-
The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
Leave a review