JSC Gazprom Neft said a third well in the Badra field in eastern Iraq has come on production, ensuring “sustainable” rates of at least 15,000 b/d. Drilling of another three wells continues.
The field has been in commercial production since August. Gazprom Neft said a key condition in the development contract has been met with 15,000 b/d for 90 days, and that participants can expect to start receiving their shares of Badra production as early as this year’s first quarter.
Gazprom Neft, the operator, has 30%. Other interest holders are Iraqi Oil Exploration Co. 25%, Korea Gas Corp. 22.5%, Petronas 15%, and TPAO 7.5% (OGJ Online, Sept. 2, 2014).
