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DNO plans more oil exports from Kurdish north of Iraq
by Daniel J. Graeber
Oslo, Norway (UPI) Oct 15, 2014

Private Russian oil company discusses investment in Iraq
Baghdad (UPI) Oct 15, 2014 - Conditions are right to move ahead with further development of the West Qurna oil field in Iraq, the director of Russia's Lukoil said Wednesday from Baghdad.

Iraqi Oil Minister Adil Abdul Mahdi hosted Lukoil President Vagit Alekperov at his Baghdad office to discuss commitments to raise output from the West Qurna field.

First oil was produced from West Qurna, located in southern Iraq, in March. Lukoil, Russia's largest private oil company, signed a contract revision in June to build two 75-mile pipelines and associated infrastructure.

Lukoil said West Qurna is producing more than 280,000 barrels of oil per day. The Oil Ministry said production could hit the 400,000 bpd mark by the beginning of next year.

Alekperov said that, so far, his company has invested $6 billion dollars on operations in Iraq.

"I believe the appropriate circumstances were made for investing in Iraq that guarantees the rights of the investors," he said.

Lukoil in August shipped its first batch of one million barrels from West Qurna from the southern Iraqi port city of Basra.

The shipment came as Iraq struggles to control an uptick in violence, though most of that is centered in the northwest and Kurdish parts of the country.

A new 24-inch oil pipeline from the Kurdish north of Iraq will facilitate exports through Turkey by the end of the year, DNO International said Wednesday.

Swedish energy company DNO, one of the premier operators in the Kurdish north of Iraq, said it was exporting an average 90,000 barrels of oil per day from its Tawke field in the region to Turkey.

Installation of a new 24-inch pipeline from the Tawke field is slated for completion by the end of the year.

"The new pipeline will increase export capacity and provide transportation system redundancy," the company said. "Other upgrades to infrastructure and facilities to increase production and processing capacity at the Tawke field are progressing as planned."

Baghdad and the semiautonomous Kurdish government are at odds over oil exports, with Baghdad saying it's the only one with the constitutional authority to approve oil exports.

DNO said it planned to have new wells in the Tawke field in production by early November. Elsewhere, the company said it found more oil than expected at a license area in Erbil, the Kurdish capital.

The company said this year it set three separate single-day production records at its Tawke field in the Kurdish north of Iraq -- daily production of 133,192 barrels of oil, daily deliveries to the Turkish sea port of Ceyhan of 126,048 barrels and daily sales of 114,760 barrels.


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Paris (UPI) Oct 14, 2014
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