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LUKOIL in the Republic of Iraq

As for the Middle East, Iraq has become the focal point of LUKOIL’s strategic policy, intended to ramp up the company’s production outside Russia. Iraq is one of the world’s most promising regions for building up production due to its enormous reserves of conventional hydrocarbons. For LUKOIL, with its vast history of onshore production and development of conventional oil, Iraq is very appealing in terms of business development and application of the lessons learned. In 2014, LUKOIL produced the first oil at West Qurna-2, a field in southern Iraq. This is one of the world’s largest fields. LUKOIL is also a party to an exploration project, covering Block 10 located in proximity to West Qurna-2.

Company Presence

SubsidiaryActivities
LUKOIL MID-EAST LIMITED     Production of oil, gas and condensate
LUKOIL Overseas Iraq Exploration B.V.      Geological exploration
LUKOIL International Services B.V.    Service

WEST QURNA-2 FIELD

The West Qurna-2 field is located in southern Iraq, 65 kilometers north-west of Basra, one of the world’s largest fields, with recoverable oil reserves totaling around 14 bn bbl. More then 90% oil reserves are in two major formations, Mishrif and Yamama.

In March 2014, commercial oil production commenced at the field.

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  • BLOCK 10 PROJECT

    The 5.5 ths. sq. km block is located in Di-Kar and Mutanna provinces, 120 km west of Basra, in the proximity of such major Iraqi oil fields as Rumaila and West Qurna.

    In 2016, basing on the results of the drilling of exploration well #1, with a depth of 3,168 meters, the oilfield Eridu was discovered. The field is the first significant discovery in Iraq for the past 20 years. In the course of the drilling, high-quality oil-saturated reservoirs of the Mishrif formation were penetrated. As a result of testing at the Mishrif horizon in 2017, an influx of sweet oil was produced to the well bore, the rate exceeding 1,000 cubic meters per day. Plans for 2017 have the drilling and testing of appraisal exploration well №2.

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LUKOIL has invested a great deal of effort to provide better living standards for local residents in the areas of its operations in Iraq. In the past few years, LUKOIL created thousands of jobs, and hundreds of personnel received training at the training center for the Iraqis employed at West Qurna-2. The social program of LUKOIL, that has been around for some years, is already part of the West Qurna-2 project seeking to improve the physical infrastructure of educational, healthcare and sports institutions. The Company has been very active in providing support to local communities, launching multiple projects to re-equip local schools, purchase computer equipment, arrange for regular supplies of drinking water to schools, build sports facilities and purchase state-of-the art medical equipment for local hospitals.

Press releases

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