Russia’s Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq.
The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective.
Lukoil continues geological exploration at Block 10. For instance, the company plans to drill and test several appraisal wells and to complete 3D and 2D seismic surveys for Eridu field and the block’s southern and central parts, respectively.
Block 10, covering 5.8 thousand square kilometers, is located 150 kilometers west of Basra, 120 kilometers away from West Qurna-2 field.
Interests in the project: Lukoil – 60% (operator), Inpex Corporation (Japan) – 40%. The Iraqi party to the agreement is represented by the state-owned Dhi Qar Oil Company (DQOC).
By John Lee.
Russia’s Lukoil will start production at Block 10 in 2021, according to a report from Platts.
The Chinese company Bohai has started to drill the 4th well at the block in southern Iraq.
In February 2017 Lukoil announced Iraq’s largest discovery of oil for twenty years at the Eridu field in Block 10, with recoverable reserves in excess of 2.5 billion barrels of crude.
(Picture: Seismic Survey at Block 10)
By John Lee.
Russia’s Lukoil and Japan’s Inpex have successfully completed the testing of the first exploratory well, Eridu 1, at Block 10 in Basra governorate.
The well recorded a daily flow rate of more than 1,000 cubic meters of sweet oil from Mishrif horizon, confirming geological expectations of a large hydrocarbon field presence within the Block 10 contract area.
Geological exploration at the block is in progress: work program for 2017 includes the drilling and testing of an appraisal well Eridu 2.
Lukoil has a 60-percent stake in Block 10, with Inpex owning 40 percent.
(Sources: Lukoil, Inpex, Ministry of Oil)
(Picture: Seismic study at Block 10)
By John Lee.
LUKoil boss Vagit Alekperov (pictured) has reportedly threatened to cut investment in Iraq unless Baghdad offers more oil in return.
The Iraqi government reimburses IOCs’ costs in physical shipments of oil.
LUKoil is a partner in the West Qurna-2 project, and in the development of Block 10.
LUKOIL has finished its 2D seismic survey at Block 10 in southern Iraq.
The seismic survey began in April 2014 and covered 2,000 linear kilometers. It was completed according to the highest standards six months ahead of schedule. The acquired seismic data will be processed and interpreted to identify promising sites for exploration drilling.
The Mandatory Geologic Exploration Program at Block 10 has a 5-year time frame with a potential 2-year extension and includes drilling one exploration well in addition to the 2D seismic survey.
Block 10 covers a total area of 5,600 square kilometers and is located on the territory of Dhi Qar and Mutanna provinces, 120 km west of Basra. LUKOIL was granted the right to conduct exploration, development and production operations at Block 10 as a result of a licensing round held in June 2012. A 25-year Service Contract with a potential 5-year extension was signed on November 7, 2012.
Shares in the project are distributed as follows: LUKOIL – 60% (Operator) and Japanese INPEX CORPORATION – 40%. The Contract holder from the Iraqi side is the state-owned South Oil Company.
By John Lee.
Lukoil President Vagit Alekperov has said that his company has invested $6 billion dollars so far on operations in Iraq.
At a meeting with Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] in Baghdad, Alekperov said:
“Lukoil is now working on geological exploration projects with other foreign companies in the 10th exploratory area … I believe the appropriate circumstances were made for investing in Iraq that guarantees the rights of the investors.”
First oil was produced from Lukoil’s West Qurna in March. The company, Russia’s largest private oil company, signed a contract revision in June to build two 75-mile pipelines and associated infrastructure.
(Sources: UPI, Ministry of Oil)
LUKOIL has started a 2D seismic survey at Block 10 in the south of Iraq.
2000 linear kilometers of seismic surveys will be completed by the BGP Inc. geophysical company within 16 months.
The Mandatory Geologic Exploration Program at Block 10 is scheduled to take five years with a potential 2-year extension and includes drilling one exploration well in addition to the 2D seismic survey.
LUKOIL Overseas was granted the right to exploration, development and production operations at Block 10 during the field’s licensing round in June 2012. The Service Contract, which has a duration of 25 years with potential five year extension, was signed on November 7, 2012.
Shares in the project are distributed as follows: LUKOIL Overseas (the Operator) – 60% and Japanese INPEX Corp. – 40%. The Contract holder from the Iraqi side is the state-run South Oil Company.
Block 10, with a total area of 5.6 thousand square kilometers, is located in the territory of Dhi Qar and Mutanna provinces, 120 km to the west of Basra.