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Lukoil, Iraq ink new West Qurna 2 development plan

The plan contemplates reaching the level of 800,000 barrels daily

MOSCOW, May 11. /TASS/. Lukoil and Iraqi Basrah Oil Company signed the West Qurna 2 development plan providing for the oil production plateau at the level of 800,000 barrels daily, the Russian oil producer says on Friday.

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The plan contemplates reaching the level of 480,000 barrels per day in 2020 and 800,000 barrels daily in 2025.

"These figures will be achieved owing to drilling and commissioning of new producing and injection wells, construction and starting operation of oil treatment, storage and transportation, gas treatment and power generation facilities," the company said.

The West Qurna 2 field in Southern Iraq is one of the largest across the globe, with recoverable resources of about 14 bln barrels. Lukoil is tapping it in the consortium with Norway’s Statoil.

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