Gazprom Neft produces first oil at Iraqi oil field

Reuters reports that Gazprom Neft, the oil-producing arm of Russian gas firm Gazprom, has produced first oil in well testing at its Badra oil field in Iraq and that the company plans to start commercial production there this year.

Large-scale production at the Badra field is now likely to begin as early as later this year. Gazprom Neft said that successful testing at the BD4 appraisal well took place at the end of December, with a daily natural flow rate of 7,000 barrels of oil.

The company also noted that Badra's output is expected to reach 170,000 barrels per day (bpd) of crude oil by 2017, or 8.5 million tonnes per year, and is expected to remain at this level for seven years.

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