"Gazpromneft" invests in Iraq - 2 billion USD for oil field Badra

Russian oil giant "Gazpromneft", the majority owner of the Petroleum Industry of Serbia, got the right in mid-December to use oil field Badra in Iraq.

The investment of up to 2 billion USD in exploitation of the Iraqi oil field is in the pipeline. Russian experts see that field as very prospective since the oil reserves are estimated at minimum 2 billion barrels and the level of exploitation at 170,000 barrels per day.

In addition to the investment by "Gazpromneft", which owns 30% of the concession, the investments in oil field Badra will also be made by companies "Turkiye Petrolleri" from Turkey, "Kogas" from South Corea and "Petronas" from Asia minor.

Gazprom Moscow

Kogas Bundang-gu, Seongnam, Gyeonggi-do Korea

Gazpromneft

oil field Badra

Turkiye Petrolleri

Petronas