West Qurna Field

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
West Qurna
West Qurna Field is located in Iraq
West Qurna Field
Location of West Qurna
CountryIraq
Offshore/onshoreonshore
Coordinates30°53′7″N 47°17′27″E / 30.88528°N 47.29083°E / 30.88528; 47.29083Coordinates: 30°53′7″N 47°17′27″E / 30.88528°N 47.29083°E / 30.88528; 47.29083
OwnerIraq National Oil Company
Service contractorsExxon Mobil, Royal Dutch Shell, Lukoil, Statoil
Field history
Discovery1973
Production
Recoverable oil43,000 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]

Phases[edit]

West Qurna Phase I[edit]

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.[1] 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.[3]

West Qurna Phase II[edit]

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[4] and 1.8 million barrels per day (290,000 m3/d) over a period of 13 years.[5][6] 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%.[7]

Water-injection project[edit]

A new joint multibillion-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.[8]

See also[edit]

References[edit]

  1. ^ a b Christopher Helman (2010-01-21). "The World's Biggest Oil Reserves". Forbes. Retrieved 2010-04-19.
  2. ^ Gina Chon (2009-11-05). "Iraq Awards West Qurna-1 Oil Field to Exxon, Shell". The Wall Street Journal. Retrieved 2010-04-19.
  3. ^ Martin Chulov (2009-11-05). "ExxonMobil wins $50bn contract to develop West Qurna oilfield". Guardian. Retrieved 2010-04-19.
  4. ^ Simon Webb (2010-04-27). "Iraq's West Qurna to hit 120,000 bpd in 2012". Reuters. Retrieved 2010-05-21.
  5. ^ "Russian Oil Giant Wins Big in Iraq Auction". Fox News. 2009-12-12. Retrieved 2010-04-19.
  6. ^ "Iraq sets West Qurna date". Upstream Online. NHST Media Group. 2010-01-20. Retrieved 2010-04-19.
  7. ^ "Iraq approves Statoil sale of oil field stake to Lukoil". af.reuters.com. Retrieved 2012-03-07.
  8. ^ Hassan Hafidh (2010-04-19). "Exxon Spearheads Iraqi Water-Injection Project". Rigzone. Retrieved 2010-04-19.

External links[edit]