Gazprom Neft interested in Nasiriyah field in Iraq - Tsivilev

BAGHDAD. Feb 27 (Interfax) - Gazprom Neft is interested in the development project of the Nasiriyah field in southern Iraq, Russian Energy Minister Sergei Tsivilev told journalists following the Russian-Iraqi Intergovernmental Commission on Trade, Economic and Scientific-Technical Cooperation, which he co-chairs.

"We reached an agreement today at the intergovernmental level, and now we are giving the necessary instructions to our companies to quickly develop a roadmap for implementing this project. Our companies, which intend to participate in this project, consider it one of the most important in terms of oil production," he said.

"Gazprom Neft is among those who are interested," he said.

The giant Nasiriyah oil field has estimated reserves of 4.4 billion barrels. Previously, Iraq offered the field to investors as part of an integrated project that included the construction of a refinery with a capacity of 300,000 barrels per day. However, the country later abandoned this approach.

Gazprom Neft has been the operator of the Badra project since 2010. Commercial oil shipments from the field began in August 2014. Badra is located in the Wasit province in eastern Iraq, with geological reserves estimated at 3 billion barrels of oil. The development project is meant to run for 20 years, with a possible extension of five years. Gazprom Neft holds a 30% stake, Kogas - 22.5%, Petronas - 15%, and TPAO - 7.5%. The Iraqi government represented by the Oil Exploration Company holds a 25% stake.