800 thousand barrels per day.. “Lukoil” increases its oil production in Iraq

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On Saturday, the Russian business “Lukoil” declared that its output will gradually expand to 800,000 barrels per day.

According to a source received by Shafaq News Agency, the deal provides better conditions and a 10-year extension of the service contract (until 2045), as well as expenditures in continuing to expand the project.

She went on to say, “The field brought new multi-well platforms into production, operated oil processing facilities and complex gas processing facilities for the Yamama Formation, and established export pipelines and water flooding units, as well as expanding the reservoir battery.”

According to him, Lukoil “operates the West Qurna 2 field with a 75% stake, with the remainder owned by the state-owned North Oil Company.” Iraq’s production capacity is less than 5 million barrels per day, but it hopes to increase it to 7 million barrels per day in the next two years with the assistance of oil firms.” Globalism.

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