PJSC Lukoil and Inpex will develop Eridu oil field, targeting production of 250,000 b/d having received approval from Iraqi state-owned Thi-Qar Oil Co. (TOC) for declaration of commerciality of reserves of Block 10 in Iraq.
Geological exploration at Block 10 started in 2012. Since then, 2D and 3D seismic surveys have been carried out and three exploration and six appraisal wells have been drilled, resulting in the Eridu oil field discovery, which is estimated to contain reserves of 12.9 billion bbl, Lukoil said in a release Mar. 6.
Block 10, with an area of 5,800 sq km, lies in the southern part of Iraq, 120 km west of Basra and 150 km from West Qurna-2 field.
In March 2019, Lukoil reported the fifth well in Eridu oil field flowed more than 9,000 b/d of oil from Middle Cretaceous Mishrif pay (OGJ Online, Mar. 26, 2019). Earlier that year, Lukoil said testing of its fourth well in the field confirmed the geologic model (OGJ Online, Jan. 24, 2019).
Lukoil is operator of the project with 60% interest. Japan’s Inpex South Iraq Ltd. holds 40%. The contract party from Iraq is state-owned TOC.
