Russia’s Lukoil aims to double oil output at Iraq’s West Qurna-2 field to 800,000 b/d

Russian oil major Lukoil has signed a 10-year agreement with Iraq’s state-owned oil firm Basra Oil Company to produce crude oil in the West Qurna-2 oilfield in Southern Iraq, with a plan to “gradually” increase oil output to 800,000 b/d.

PHOTO: An oil refining plant owned by Lukoil. Lukoil

With better investments to advance the project, the agreement will strengthen the “economic efficiency of the West Qurna-2 project", Lukoil said in a statement.

Lukoil plans to use a multi-well pad drilling process to increase oil production from the West Qurna-2 oilfield. Multi-well pad drilling allows multiple wellbores to be drilled from a drilling site. It also plans to commission new oil treatment facilities and build export pipelines there.

Lukoil started developing the first oilfield in Iraq (West Qurna-1) in December 2009 and started commercial production in March 2014. In 2019, the company commenced drilling new production wells at the West Qurna-2 field. “As of today, West Qurna-2 delivers 9% of Iraqi total oil production,” the company said.

The new contract brings opportunities to boost Iraqi oil production in the long run. Iraq produced around 4.4 million b/d of crude oil in 2022, according to the the Organization of the Petroleum Exporting Countries' (OPEC) data.

By Aparupa Mazumder 

Please get in touch with comments or additional info to news@engine.online