Lukoil produces 30 million tonnes of oil from Iraq field

Lukoil news
Lukoil news

Russian oil company Lukoil has hit landmark figures for oil production from its West Qurna-2 field in Iraq.

Since its launch in March 2014, cumulative production has exceeded 30 million tonnes of oil.

Lukoil said it has achieved its annual production target of 20 million tonnes of oil produced since the beginning of the year. As of Christmas Day, field production capacity totalled 450,000 barrels (approximately 66,000 tonnes) of oil per day.

West Qurna-2 – one of the largest oilfields in the world – is located in Southern Iraq, 65 kilometers from the town of Basrah.

The project development stakeholders are Iraq’s Ministry of Oil and a consortium of contractors comprising LUKOIL (75%) and the Iraqi state-owned North Oil Company (25%).