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WASSIT / Aswat al-Iraq: The central treatment station of the Badra oilfield will be referred to a British company at a cost of $329 million, Wassit governor said on Thursday.
"The Council of Ministers approved on Thursday the contract to refer the central treatment station of the Badra oilfield to Britian's Petrofac at a cost of $329 million," Engineer Mahdi al-Zubeidi told Aswat al-Iraq news agency, noting that the company will start implementing the project in the coming few days in coordination with a consortium of oil companies, which won the contract to develop the field.
"2013 will witness extracting oil from this field with 60,000 barrels to reach the peak in 2016 to 170,000 barrels," he added.
Barda oil field is situated on Iraq-Iran borders and a part of it is in landmine field.
The field reserves are estimated to be 3 billion cubic meter of oil ad half a billion cubic meter of gaz.
Gazprom Russian company owns 40% of the project while the other parts are divided as follows: 10% for TPO Turkish Company, 30% for South Korea's KOGAS and 20% for Malaysian PETRONAS.
In the framework of the project, Gazprom had earlier given two contracts, the first for Al Khalij Al Arabi Company, an Iraqi demining company in order to demine the field.
The second contract was given Oil Drilling Company, which is an Iraqi public company in order to carry out a seismic scan of the same field.
The 4 companies’ consortium aims at starting works in oil wells this year.
Kut, the capital of Wassit, is 180 km southeast of Baghdad.
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"The Council of Ministers approved on Thursday the contract to refer the central treatment station of the Badra oilfield to Britian's Petrofac at a cost of $329 million," Engineer Mahdi al-Zubeidi told Aswat al-Iraq news agency, noting that the company will start implementing the project in the coming few days in coordination with a consortium of oil companies, which won the contract to develop the field.
"2013 will witness extracting oil from this field with 60,000 barrels to reach the peak in 2016 to 170,000 barrels," he added.
Barda oil field is situated on Iraq-Iran borders and a part of it is in landmine field.
The field reserves are estimated to be 3 billion cubic meter of oil ad half a billion cubic meter of gaz.
Gazprom Russian company owns 40% of the project while the other parts are divided as follows: 10% for TPO Turkish Company, 30% for South Korea's KOGAS and 20% for Malaysian PETRONAS.
In the framework of the project, Gazprom had earlier given two contracts, the first for Al Khalij Al Arabi Company, an Iraqi demining company in order to demine the field.
The second contract was given Oil Drilling Company, which is an Iraqi public company in order to carry out a seismic scan of the same field.
The 4 companies’ consortium aims at starting works in oil wells this year.
Kut, the capital of Wassit, is 180 km southeast of Baghdad.
[You must be registered and logged in to see this link.]
