19 Jan 2012 13:39

Gazprom Neft begins drilling second appraisal well at Badra field in Iraq

MOSCOW. Jan 19 (Interfax) - Gazprom Neft has begun drilling the second appraisal well at the Badra field in Iraq, the company said in a press release.

The well, which will be 4,900 meters deep, is expected to be finished in the summer of this year.

Drilling of the first exploratory well began in November 2011. In the near future, Gazprom Neft will begin reactivating and testing the previously drilled exploratory well Bd 1.

Following the results of their research, the appraisal wells will be bumped up to the status of production wells.

After drilling and testing of the appraisal wells is complete, and based on the results of 3D seismic data interpretation, the final plan for developing the Badra field will be approved and confirmed in February 2013.

The three-year contract for drilling 11 wells was concluded in July 2011 with the company Schlumberger.

The Badra field is located in the Wassit Province in Eastern Iraq with estimated reserves of 3 billion barrels of oil. The contract to develop the Badra oil deposit was signed with the Iraqi Government in January 2010 following a tender in December 2009. The participating companies are lead operator Gazprom Neft (30%), Kogas (22.5%), Petronas (15%) and