Lukoil has signed a new development plan for West Qurna-2 oil field in Iraq with Basra Oil Co.
The plan calls for an increase in production to a plateau rate of 800,000 b/d in 2025 from current flow of 480,000 b/d.
The plateau target is lower than that of Lukoil’s earlier service contract, which called for early production from the Late Cretaceous Mishrif formation of 400,000 b/d and full-field Mishrif output of 550,000 b/d.
Production was to have risen to a plateau rate of 1.2 million b/d with development of the Early Cretaceous Yamana formation (OGJ Online, Mar. 31, 2014).
