Commercial production of oil starts from Badra field

The executives at the company's South Korean government said that the operations in Badra field have not been affected largely by the conflict in Iraq due to the incidence in an area under the control of the federal government.

The statement and another official from the South Korean company said that the current production of the project is 15 thousand barrels per day and that the company aims to produce 170 thousand barrels per day within three years, according what Reuters reported, seen by "Shafaq News".

"Gazprom” the oil arm of the "Gazprom" gas government company denied that the first amount of oil will be transferred via pipelines to Iraq's export port in Basra.

The company added that "the current supply of Badra to pipeline is more than 15 thousand barrels of oil per day and will be maintained at this level until the end of 2014."

The Iraqi government has opened on Saturday Badra oil field adjacent to the border with Iran.

The field initiate, according to the official schedules production by pumping 15 thousand barrels of oil per day, rising next year to 60 thousand and then settle down in 2017 with a rate of production 170 thousand barrels of oil per day.

Official estimates show that the field, which is located in Wasit province, south of Baghdad, includes about three billion barrels of oil, one of the common fields between Iraq and Iran.

Foreign companies won a contract to develop Badra service field, during the second licensing round in 2010.