Russian oil producer Gazprom Neft has increased the production capacity of its Sarqala Field in Iraqi Kurdistan by 25% by launching a third production well, the company said April 4.
The cumulative daily oil production at the field has reached 35,000 barrels.
Gazprom Neft plans to produce 1.2 million tonnes at Sarqala in 2019, of which its share will reach more than 0.5 million tonnes.
The company participates in two projects in Iraqi Kurdistan, at the Shakal and Garmian blocks. Garmian includes the Sarqala Field.
Gazprom Neft has 40% in the Garmian Block, the Kurdistan government owns 20%, and Canada's WesternZagros has 40%.
Last year the company said it was in talks with Repsol about joint projects controlled by the Spanish oil major in Iraqi Kurdistan.
Recommended Reading
Biden Blocks Japan’s Nippon Steel from Buying US Steel for $14.9B
2025-01-03 - President Biden cited national security concerns in his decision, but Nippon Steel and U.S. Steel said the decision ignored the law and was motivated by politics.
Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
2025-01-03 - Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
2025-01-02 - Pembina Gas Infrastructure closed a CA$420 million transaction to acquire interests in Whitecap Resources’ natural gas processing facility in Alberta, Canada.
One Equity Partners Completes Acquisition of EthosEnergy
2025-01-02 - Private equity firm One Equity Partners said it purchased EthosEnergy to meet the growing maintenance needs of the gas power market.
EQT Closes $1.25B Non-Op Appalachia Divesture to Equinor
2024-12-31 - EQT Corp. said the proceeds of the sale to Equinor were used to repay outstanding borrowings under its revolving credit facility related to its acquisition of Equitrans Midstream Corp.