The West Qurna 2 Field in southern Iraq is projected to ramp up production by 20% in 2020, to 480,000 barrels per day under the ownership of Russian energy company Lukoil. This provided an opportunity for the population to obtain qualified medical care close to their point of residence. Zubair Reservoir. [2], In November 2009, an Exxon Mobil - Shell joint venture won a $50 billion contract to develop the 9-billion-barrels (1.4×10^9 m3) West Qurna Phase I. West Qurna is believed to hold 43 billion barrels (6.8 × 10 ^ 9 m 3) of recoverable reserves. The area is located north of Rumaila and west of Bassora, and is believed to hold 43 billion barrels of recoverable reserves. Location: 50 km northwest of the city of Basra. Select an option below to see step-by-step directions and to compare ticket prices and travel times in Rome2rio's travel planner. As part of the oil field development, LUKOIL envisaged a Gas Turbine Power Plant to supply power to all oil production facilities. West Qurna oil field is one of the largest oil fields in Iraq with reserve about 43 billion barrel of crude oil. Exxon’s stake in West Qurna 1 field is worth at least $500m Rising instability in the region add risks to deal talks A stake sale would mark Exxon’s exit of West Qurna 1 field. The LUKOIL Group’s interest came to 56.25%. Since the very first year of its operations at West Qurna-2 field LUKOIL Mid-East Ltd. has been active in supporting the development of physical training and sports. West Qurna is believed to hold 43 billion barrels (6.8×10^9 m3) of recoverable reserves. Located Production at the West Qurna 1 oilfield has reportedly reached 465,000 barrels per day (bpd), following the completion of new crude processing facilities and oil storage tanks. The project was frozen due to the UN sanctions against Iraq. [5][6] The oil was exported to the Group’s ISAB refinery in Italy. I know that the Soviet oil industry worked in this region since the end of the 1960th. West Qurna-2 field is located in the southern part of Iraq, 65 kilometers north-west of Basra, a major seaport city, and is one of the world's largest fields. West Qurna-2 field is located in the southern part of Iraq, 65 kilometers north-west of Basra, a major seaport city, and is one of the world's largest fields. The Lukoil-Statoil alliance will receive $1.15 per barrel that they produce. The Kick-off meeting was held on 24-25 of September in Istanbul. LUKOIL makes a great effort to improve wellbeing of the local residents. Controlled by: Ministry of Oil (Baghdad). By the end of the year, oil production output came to 380 thousand bbl./day, and the stock of production wells that produced oil included 61 wells. Now a LUKOIL Cup tournament is regularly held that is joined by more than 50 teams. The Iraqi government, in turn, will pay $1.90 per barrel produced by ExxonMobil-Shell alliance. Client : Samsung Engineering Co. Ltd. Project code : INI-317. NOC with a 25% interest is involved in the project jointly with the LUKOIL Group under the contractual terms as one of the project contractors. Since the very beginning of the project social issues were treated with special attention, despite the fact that it is not the Company’s contractual obligation. The project contract until 2020 was signed. Location : Iraq. level of 400 thousand barrels per day to 480 thousand barrels per day in 2020. Recommended option. West Qurna is believed to hold 43 billion barrels (6.8×10 m ) of recoverable reserves. Officials told Reuters on Monday that the field was previously producing about 440,000 bpd. in the country.. PRIME MINISTER OF IRAQ AND HEAD OF LUKOIL DISCUSSED THE PROSPECTS FOR COOPERATION, LUKOIL SIGNS NEW DEVELOPMENT PLAN FOR WEST QURNA-2 FIELD, PJSC LUKOIL PRESIDENT MET PRIME MINISTER OF IRAQ, Remuneration of Directors and Management Committee Members, Engagement with the indigenous small-numbered peoples of the North Support. OnePetro (9) SPE Publications (1) SPE.org (2) At the top of the Yamama reservoir, the West Qurna Field covers an area of 735 km2. Over the past years the entity has been actively supporting the local communities: it has provided new equipment for schools, purchased computers, arranged for regular supplies of drinking water, constructed sporting facilities, and supplied medical equipment. Oil and Gas Fields: West Qurna 1. The project includes construction of a plant which will help 6 major oil-field development projects by producing 10–12 million barrels (1,600,000–1,900,000 m3) of water per day. There is 1 way to get from West Qurna Field to Dubai by car or plane. West Qurna is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. The field was discovered in 1973 and explored (2D seismic and exploratory drilling) in … The drilling campaign will ramp up production at West Qurna-2 from the current LUKOIL has over 20 years of sustainble growth experience, and is one of the leading companies in the Russian oil & gas industry. LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. West Qurna-2 field was discovered in 1973. The field was closed to Western firms due to years-long sanctions. The field was closed to Western firms due to years-long sanctions. West Qurna (Arabic: غرب قرنة) is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. [7], A new joint multibillion-dollar water-injection project will be awarded to operator ExxonMobil. Prime Minister of the Republic of Iraq and Oil Minister received a delegation of PJSC LUKOIL in Baghdad. In August: drilling of the first horizontal well successfully completed. Prolific Hydrocarbon Reservoirs in Southern Iraq Only the Mishrif, Zubair and Yamama reservoirs are currently being developed or are producing in the Rumaila–West Qurna field. It covers an area of 340km2. NES Fircroft. In its activities the Company pursues the sustainable development principles and aims to ensure a good balance between socio-economic and environmental development. A new Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day was signed by LUKOIL This first of all has to do with soccer. The company’s vertical integration ensures efficient operations across all segments and helps achieve strategic goals for the benefit of all stakeholders. West Qurna (Arabic: غرب قرنة ) is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. [1] The field was closed to Western firms due to years-long sanctions. Find all the transport options for your trip from Riyadh to West Qurna Field right here. June: accelerated compensation of costs (the precondition that the production must be maintained at 120 thousand bbl/day for 90 consecutive days was met) commenced. [1] As per Iraqi Oil Ministry estimates, the project will require a $25 billion investment and another $25 billion in operating fees creating approximately 100,000 jobs in the underdeveloped southern region. The supplied equipment included a cardiograph, an X-Ray unit, dental equipment, an autoclave, and accessories required to transport seriously ill patients. --= APh =-- 19:36, 29 March 2014 (UTC) AbstractThe study utilized geomorphic and structural geology analysis integrated analysis to understand the effect of West Qurna Oil Field (or West Qurna Structure) on the part of Euphrates river route, whether it’s related to neotectonic activity or it’s a natural phenomenon. In an announcement made for the company's third quarter 2018 results, Schlumberger have revealed that they have secured a 42-month IDS contract for 30 wells in the West Qurna Field … A total 700 outfits and 200 toys were purchased. In 2009, a consortium led by LUKOIL won a tender for the development of the field. The contract was amended to mitigate project risks: the design peak production was reduced from 1.8 to 1.2 million bbl/year, the contract period extended till 2035. West Qurna Field Development Phase 2 Project. The LUKOIL Group’s proceeds are divided into two parts – as compensation of costs to the extent incurred, and as remuneration. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected in 2025. LUKOIL provides funding for all the project costs except for the remuneration tax payable by the parties to the project on their own for their share of remuneration. Drive from West Qurna Field to Basra; Does anyone have any detailed information on the history of the field? South Oil Company (SOC) represents the Iraqi Republic in the project and distribute the project oil. [3], In December 2009, Russia's Lukoil and Norway's Statoil were awarded the rights to develop the 12.88-billion-barrels (2.048×10^9 m3) West Qurna Phase II oil field. The current production capacity is 400,000 barrels per day (bpd). The alliance will include Shell, Eni SpA, Lukoil, CNPC and Petronas. The project interest was increased to 75%. On January 31, 2010, a services contract was signed for the development and production at West Qurna-2. LUKOIL actively involves the local population to construct surface facilities at West Qurna-2 field. In May 2018, LUKOIL signed a new development plan that provides for an oil production plateau of 800 thousand barrels per day. ExxonMobil, which purchased the rights to develop Phase I of the field in 2009, added new facilities in June 2019 that allows for production of 465,000 barrels per day. Large-scale social program that LUKOIL has been implementing for a few years already as part of the West Qurna-2 project aims at improving the physical infrastructure of educational, healthcare and sporting institutions. development phase. In autumn 2015, LUKOIL Mid-East Ltd. in cooperation with the Dubai branch of LUKOIL International Services B.V. (UAE) and Al-Aun (Iraq) charity foundation conducted a campaign for purchasing and distribution of winter clothes and toys among low-income families and orphans. West Qurna (Arabic: غرب قرنة) is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. The contract was awarded by West Qurna 1 Lead Contractor and is of a significant value. The experience acquired by the Company in the region, the existing infrastructure and cost compensation within the project development from the current production will ensure maximum efficiency of the project implementation., Prime [8], "Iraq Awards West Qurna-1 Oil Field to Exxon, Shell", "ExxonMobil wins $50bn contract to develop West Qurna oilfield", "Iraq's West Qurna to hit 120,000 bpd in 2012", "Russian Oil Giant Wins Big in Iraq Auction", "Iraq approves Statoil sale of oil field stake to Lukoil", "Exxon Spearheads Iraqi Water-Injection Project", U.S. Energy Information Administration Country Analysis Brief, Exxon-led group clinches Iraq's W.Qurna contract, Exxon, Shell Win Iraq's West Qurna Contract, https://en.wikipedia.org/w/index.php?title=West_Qurna_Field&oldid=1004259091, Pages with non-numeric formatnum arguments, Creative Commons Attribution-ShareAlike License, This page was last edited on 1 February 2021, at 19:48. West Qurna-2 Oilfield Discovery, Location, and Reserves Details The page will reload with new widgets as you request. 2019, LUKOIL commenced drilling of new production wells as part of the second Drive, fly • 3h 38m. This information might be about … West Qurna is one of the largest Iraqi oil fields. The contract was ratified by the Cabinet of Ministers of the Republic of Iraq. West Qurna-1 is one of the world’s largest oil fields in the world with expected recoverable reserves of over 20 billion bbl. Developed by: ExxonMobil (25%), PetroChina (25%), … Schlumberger has won a $480-million contract to drill 96 oil wells in southern Iraq for the country’s Basra Oil Company and for ExxonMobil, which operates the giant West Qurna-1 field with partners from Iraq, Japan, Indonesia, and China. ExxonMobil is set to increase the current production of 0.27 to 2.25 million barrels per day (43×10^3 to 358×10^3 m3/d) within seven years. The consortium of Lukoil and North Oil Company plans to build a new water treatment plant as part of the West Qurna Oil Field-2 development. The estimated recoverable reserves of the field are 14 billion barrels of oil making it the second largest undeveloped field in the world. Parties discussed several issues related to LUKOIL projects The first tanker of 1 million barrels of compensation oil was shipped out. On March 29, 2014, Russia’s Lukoil Overseas began production at West Qurna-2, Iraq’s second-largest oilfield. The project is strategic for the improvement of production facilities at Degassing Station 7 (DS7) to enhance the recovery of one of the major fields in the area and will be completed in 32 months. Name: West Qurna 1. The current production capacity of the field is 400,000 barrels per day (bpd). State-of-the-art equipment of leading global manufacturers was supplied to the district’s hospitals. The field was closed to Western firms due to years-long sanctions. The field's initial recoverable reserves come to … It located in the south-eastern part of Iraq, approximately 50 km north-westwards from Basra and 30 km from Zubair oil field. Description : Manufacturing and Installation of Piping for Tankage Area / Installation of Electrical Works for Wel Pad. West Qurna-2 is a giant oil field in southern Iraq with recoverable reserves estimated at 13 billion barrels. LUKOIL receives the compensation oil as sales proceeds. The field is one of the largest oil fields in the world with expected recoverable reserves of over 20 billion barrels. Reserves: 8.7 billion barrels of oil. At the peak of construction activities the field’s total headcount was more than 11 thousand people, of whom two thirds were represented by the local personnel employed by both international and Iraqi companies (over a dozen major Iraqi subcontractors were engaged in the project). In 2019 production at the oilfield reached 465,000 barrels per day, following the completion of new crude processing facilities and oil storage tanks. The field was closed to Western firms due to years-long sanctions. Minister of Iraq Haider Al Abadi held a meeting with PJSC LUKOIL President The West Qurna-2 oil field is located 65 kilometers (km) northwest of Basra in southern Iraq. Privacy Preference Centre. In addition, they will work to raise output from West Qurna 2 to 120,000 barrels per day (19,000 m3/d) by 2012[4] and 1.8 million barrels per day (290,000 m3/d) over a period of 13 years. March: target production rate of 120 thousand bbl/day reached. Rome2rio is a door-to-door travel information and booking engine, helping you get to and from any location in the world. West Qurna is one of the largest oil fields in Iraq with an estimated 43 billion barrels of recoverable reserves. The company, which manages Lukoil’s international upstream projects, expects output to increase from more than 280,000 barrels of oil per day (bopd) as of August to 1.2 million bopd by the end of 2017, achieving 400,000 bopd by year-end 2014. The consortium of PJSC LUKOIL and Statoil was awarded the field development contract. Home West Qurna Field Development Phase 2 Project. An agreement was signed with the new Iraqi government till 2030. Since 2012, the entity has been making an effort to supply equipment to the healthcare clinics of Madain district where West Qurna-2 field is located. Discovery: 1973. The Mishrif formation in southern Iraq is a world class reservoir with over 100 GBO in place. In January 2010, ExxonMobil Iraq Limited (EMIL), an affiliate of Exxon Mobil Corporation, signed an agreement with the South Oil Company of the Iraq Ministry of Oil to rehabilitate and redevelop the West Qurna I field. Battle of Basra (2003) - Wikipedia The two oil companies also agreed to jointly develop an oil and gas field in the northern Timan-Pechora area of Russia (Komi Republic) and intended to secure the rights to develop the West Qurna Field in Iraq, one of the country's largest. LUKOIL commenced drilling of new production wells at West Qurna-2 field as part of the second development phase. North Oil Company (NOC), a state-owned company being a part of the Iraqi Oil Ministry. West Qurna-2 Field Source. The LUKOIL Group’s share in annual production assessed as proceeds came to 41.7 million bbl. wells, including 54 wells at Mishrif formation and 3 wells at Yamama formation. The parties discussed the progress of the West Qurna-2 project and Block-10, as well as prospects for cooperation in other areas in Iraq. Contracts were signed with the contractors for construction of surface facilities and commencement of its active development phase. Construction of a football pitch was funded by the entity. Every year LUKOIL Mid-East Ltd. provides funding to supply drinking water to Madain schools. When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. Vagit Alekperov in Baghdad. DS6 plant is in supergiant West Qurna-1 oil field, located 65 kilometers (km) northwest of Basra in southern Iraq. The Сompany concluded contracts to drill 57 production On December 12, 2009 the consortium of PJSC LUKOIL and Statoil, a Norwegian company, was awarded a contract for the development of West Qurna-2 field, one of the world's largest fields. Rome2rio makes travelling from Riyadh to West Qurna Field easy. More than 90% of the reserves are concentrated in Mishrif and Yamama accumulations. LUKOIL Mid-East Ltd. (a fully-owned subsidiary of PJSC LUKOIL acting as operator of West Qurna-2 project) created thousands of jobs, hundreds of employees received training at the training center for the Iraqi personnel employed at the West Qurna-2 field in the south of the country. West Qurna-1 is one of the world’s largest oil fields. LUKOIL prides itself on enriching the lives of consumers by providing highest quality petroleum products, which are distributed via retail centers and LUKOIL filling stations. NOC does not incur any costs receiving only its share (25%) in the remuneration. West Qurna 1 oilfield, developed by Exxon, was previously producing about 440,000 bpd, officials working at the field told Reuters on the sideline of a ceremony to launch the new installations. The oil field is situated at the lower … 3D seismic survey to update the field’s geological model, both for the discovered formations and prospective horizons. Following the compensation of historical losses LUKOIL will obtain compensation of all the costs as a share in oil production. West Qurna is believed to hold 43 billion barrels (6.8×10^9 m3) of recoverable reserves. By Muneer Tondan November 10, 2018. The field's initial recoverable reserves come to around 14 billion barrels. West Qurna (Arabic: غرب قرنة) is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. The company plans to employ more than 500 Iraqis, living in proximity to West Qurna-2 field, for the drilling campaign. It is a share in the produced oil based on its price calculated in relation to the global market prices. To the north-east is the West Qurna Field, the second-largest oil field in the world. On March 29, 2014, commercial oil production was commenced at the field. Q&A: Hassan Mohammed Hassan, deputy Basra Oil chief in charge of licensing round fields and West Qurna 1 Basra's fields bore the brunt of the OPEC-plus production curtailments, and they are ready to surge as output quotas lift. This made it possible to achieve significant synergies from vertical integration of the LUKOIL’s upstream and downstream business. and the Basra Oil Company. The onshore Iraqi field, which is located 65km north-west of Basra, is believed to be one of the largest oil fields in the world with nearly 14 billion barrels of initial recoverable reserves. Russian geologists have discovered this oil field in 1973. ( 6.8×10 m ) of recoverable reserves surface facilities at West Qurna-2 field as part the! Has to do with soccer field in 1973 reserves of over 20 years sustainble! Ministers of the Republic of Iraq and is operated by ExxonMobil LUKOIL Cup is. To obtain qualified medical care close to their point of residence s vertical integration of the field closed! 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