Lukoil announces major gas investment projects and confirms efforts to raise oil production

Baghdad-INA 

Lukoil revealed on major projects in the field of associated gas investment, and it set a condition for extending the oil exploration period in the country, it revealed the expected early production volume in the Arido field in Dhi Qar Governorate, after discovering reserves in it amounting to 7 billion barrels.
 
The head of Russian Lukoil Company, Vagit Alekperov, said in a statement to the Iraqi News Agency (INA) that "the company has major projects, including the associated gas investment project, and we announced a tender for a gas compression and drying station in West Qurna 2 in Basra Governorate, in addition to the Yamama development project in West Qurna. 2.”
 
  He Added, We submitted all the necessary papers to the Ministry of Oil regarding the commercial advertisement, and we are awaiting approval, and we hope that It is happening at the earliest opportunity, so that we can start early production of 30,000 barrels.”
 
He pointed out that "the company submitted a request to the Ministry of Oil to consider extending the exploration period for an additional five years in the tenth exploration area, in order to explore new configurations, so we hope to cooperate with the Ministry of Oil to increase the share and size of Iraq's oil reserves."
 
And he indicated, "The production of one billion barrels through the company has so far added more than 40 billion dollars to Iraq's budgets, and will help support social projects and support budgets."