The use of cutting-edge production technologies and transportation mean this result has been achieved within less than two years of the field going into commercial production in Q3 2014.
Four new wells were brought into production at this field earlier this year, together producing a further 30,500 barrels per day. Drilling of four further wells — P-10, BD-2, P-14 and P-19 — is currently ongoing, with construction expected to be complete by early 2017.
Denis Sugaipov, Director of Major Projects, Gazprom Neft, commented: “Development of the Badra field is predicated upon our building modern oil and gas infrastructure, and upon our consistently increasing oil production. Gazprom Neft, as operator of the project, is optimising the use of technology to cut lead times and costs in well construction, thereby ensuring optimum viability in field development.”
The Badra oilfield is located in the Wasit Province, Eastern Iraq. Preliminary estimates indicate total oil in place at the Badra field to be in the order of three billion barrels. The contract for development of the field is expected to run for 20 years, with potential for extension by a further five. The contract was signed with the Government of Iraq in January 2010, on behalf of a consortium comprising Gazprom Neft (operator), KOGAS (Korea), PETRONAS (Malaysia), and TPAO (Turkey). Gazprom Neft’s share in the project is 30%, that of Kogas is 22.5%, Petronas’ is 15% and TPAO’s is 7.5%. The share of the Iraqi government, represented by the Iraqi Oil Exploration Company (OEC), is 25%.
Field development is being undertaken by Gazprom Neft Badra, and marketing of Iraqi oil on the international market by Gazprom Neft Trading GmbH — both companies being subsidiaries of Gazprom Neft.