Gazprom Neft, the oil arm of Russian energy giant Gazprom, said on Monday it had launched production at the Badrah oilfield in eastern Iraq, ITAR-TASS reports.
The volume of oil required for the start of commercial production will be accumulated in three months and “the Badrah field will then be ready to reach planned production levels of 15,000 barrels per day,” ITAR TASS quotes Gazprom Neft's statement.
Production at the Badrah field located in the eastern Wasit Province will reach its peak of 170,000 barrels per day (around 8.5 million tons per year) in 2017 and then remain the same for a period of 7 years, Gazprom Neft said.
Geologic reserves at the Badrah field are estimated at 3 billion barrels of oil.
