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West Qurna Field

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Title: West Qurna Field  
Author: World Heritage Encyclopedia
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Subject: Economy of Iraq, Energy in Iraq, Al-Qurnah, Lukoil, Coolanol
Collection: Exxonmobil, Exxonmobil Oil and Gas Fields, Lukoil, Lukoil Oil and Gas Fields, Oil Fields of Iraq, Statoil, Statoil Oil and Gas Fields
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West Qurna Field

West Qurna
West Qurna Field is located in Iraq
West Qurna Field
Location of West Qurna
Country Iraq
Offshore/onshore onshore
Coordinates
Owner Iraq National Oil Company
Service contractors Exxon Mobil, Royal Dutch Shell, Lukoil, Statoil
Field history
Discovery 1973
Production
Recoverable oil 43,000 million barrels (~5.9×10^9 t)

West Qurna (Arabic: غرب قرنة‎) is one of Iraq's largest oil fields, located north of Rumaila field, west of Basra. West Qurna is believed to hold 43 billion barrels (6.8×10^9 m3) of recoverable reserves.[1] The field was closed to Western firms due to years-long sanctions.[2]

Contents

  • Phases 1
    • West Qurna Phase I 1.1
    • West Qurna Phase II 1.2
    • Water-Injection Project 1.3
  • See also 2
  • References 3
  • External links 4

Phases

West Qurna Phase I

In November 2009, an Exxon Mobil - Shell joint venture won a $50 billion contract to develop the 9-billion-barrels (1.4×10^9 m3) West Qurna Phase I.[3] As per Iraqi Oil Ministry estimates, the project will require a $25 billion investment and another $25 billion in operating fees creating approximately 100,000 jobs in the underdeveloped southern region. ExxonMobil is set to increase the current production of 0.27 to 2.25 million barrels per day (43×10^3 to 358×10^3 m3/d) within seven years. The Iraqi government, in turn, will pay $1.90 per barrel produced by ExxonMobil-Shell alliance.[4]

West Qurna Phase II

In December 2009, Russia's Lukoil and Norway's Statoil were awarded the rights to develop the 12.88-billion-barrels (2.048×10^9 m3) West Qurna Phase II oil field. The Lukoil-Statoil alliance will receive $1.15 per barrel that they produce. In addition, they will work to raise output from West Qurna 2 to 120,000 barrels per day (19,000 m3/d) by 2012[5] and 1.8 million barrels per day (290,000 m3/d) over a period of 13 years.[6][7] In March 2012, Statoil sold its 18.75% stake in the field to Lukoil, giving the Russian firm a 75% stake, and leaving the Iraqi state oil company with 25%.[8]

Water-Injection Project

A new joint multi-billion dollar water-injection project will be awarded to operator ExxonMobil. The project includes construction of a plant which will help 6 major oil-field development projects by producing 10–12 million barrels (1,600,000–1,900,000 m3) of water per day. The alliance will include Shell, Eni SpA, Lukoil, CNPC and Petronas.[9]

See also

References

  1. ^
  2. ^
  3. ^
  4. ^
  5. ^
  6. ^
  7. ^
  8. ^
  9. ^

External links

  • U.S. Energy Information Administration Country Analysis Brief
  • Exxon-led group clinches Iraq's W.Qurna contract
  • Exxon, Shell Win Iraq's West Qurna Contract
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