Lukoil submits development plan for new Iraq oil field

Lukoil submits development plan for new Iraq oil field

Dubai, 14 November (Argus) — Russia's Lukoil has submitted a preliminary development proposal for a new oil field in the south of Iraq, that could eventually see output crude grow to 250,000 b/d, the oil ministry announced.

The Eridu field was discovered in 2017 in block 10, which sits between the Al-Muthana and Dhi-Qar governorates in the south of Iraq. The block was awarded to a consortium of Lukoil and Japan's Inpex in 2012 under Iraq's fourth licensing round.

"Preliminary expectations as a result of studies presented by the company indicate that the oil reserves of between 7 to 12 bn bls, and that the proposed peak production is 250,000 b/d", the oil ministry said on 13 November.