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Lukoil signs exploration deal for Block 10 in Iraq

BAGHDAD, Iraq, December 19, 2017

Russia’s Lukoil has signed contracts with Iraq’s Oil Exploration Company to conduct seismic surveys at Eridu field to appraise its geological potential, and also at Block 10's southern and central parts, previously not part of the survey.

The scope of appraisal works at Eridu field includes a 3D seismic survey of 983 sq km to update the extension of the field and its geological structure.

At Block 10, 2D seismic acquisition of the southern and central parts is planned to be accomplished over an area of 3,500 linear km to ensure the mapping of targets for prospect drilling.

The approved geological exploration plan for Eridu field envisages the drilling of additional appraisal wells on a mid-term horizon.

Block 10, covering 5,600 sq km, is located in the governorates of Dhi Qar and Muthanna, 120 km west of Basra.

The interests in the project are: Lukoil – 60 per cent (operator), INPEX Corporation (Japan) – 40 per cent. The Iraqi party to the agreement is represented by the state-owned South Oil Company.

The drilling of the first exploration well, Eridu-1, in February of 2017 led to the discovery of a major oilfield. Preliminary data indicate it is the most significant discovery in Iraq for the past 20 years. The drilling of the second and third wells confirmed the field’s earlier assumed geological model. – TradeArabia News Service




Tags: Oil exploration | Iraq | Lukoil |

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