Russian oil giant Gazprom says production reached 4 million oil tons in Kurdistan Region

A view of Sarqala-1 well production site near Hasira village in Sulaimani’s Chamchamal district, Kurdistan Region, Iraq on June 8, 2016. (Araz Mohammed/Iraq Oil Report)

915 View

+ -

SULAIMANI — Deputy Chief Executive (CEO) of Gazprom Neft for Exploration and Production Vadim Yakovlev said that the company’s production in the Kurdistan Region has reached four million tons since the beginning of commercial production at Sarqala field east of Sulaimani governorate in April 4, 2019.

In a statement to the Russian Tass news agency on Wednesday (November 25), Yakovlev says that is still interested in development on the Kurdistan Region’s market despite the coronavirus restrictions.

"Despite the COVID-19-related restrictions, we continued implementation of our projects in the Region in 2020. The fourth well will be commissioned at the Sarqala field that will allow boosting and supporting the production level,” Yakovlev was quoted as saying by the Russian Tass news agency.

"Gazprom Neft Middle East B.V. continued implementation of main production projects, including the drilling of the fourth well. Its commissioning will increase production to 4,100 tons and roughly 32,000 barrels. The well’s commissioning is scheduled for the first half of 2021," the company said.

The conglomerate is involved in the implementation of two projects in Shakal and Garmian blocks, with 80 percent share in the former and 20 percent in the later.

It has been the operator at Garmian block since February 2016.

On April 4, 2019, the Russian giant energy company announced that its subsidiary Gazprom Neft Middle East B.V. has commissioned a third production well at Sarqala field with potential production of 12,000 barrels per day (bpd).

Gazprom started operating in Garmian block in 2011, with commercial oil shipments commencing in 2015.

On March 31, 2019, the Russia oil giant said it would not reduce investment in its project in the Kurdistan Region despite a KRG request to do so following a decline in oil prices that pushed several countries to call on oil producers to cut investments to partially reimburse as part of their contractual arrangements.

(NRT Digital Media)