Syrian Oil and Gaz News

Lukoil seeks bids for Iraq’s West Qurna seismic surveys

Russian energy company Lukoil(LKOH.MM) and partners have issued a tender for seismic surveys at Iraq’s West Qurna Phase Two oilfield, according to a statement published on Saturday.

 

 

Lukoil, which along with its consortium partner, Norway’s Statoil(STL.OL), won a contract to develop the field, invited companies to bid for carrying out 3D field seismic surveys at the oilfield, with a deadline of Sept. 26, said the statement, published in the Assabah newspaper.

Lukoil and Statoil sealed the 20-year deal to develop the West Qurna Phase Two, a 12.9-billion-barrel oilfield in the south, in an auction in December, pledging to boost output to a plateau target of 1.8 million barrels per day (bpd).

Production at West Qurna will hit 120,000 bpd in 2012, a senior executive from Statoil said in April.

Lukoil’s development contract is part of a series of deals signed by Iraq with global oil companies in a bid to boost its crude output capacity in seven years to 12 million bpd, from 2.5 million bpd now.