Korea Gas Corporation (KOGAS) has announced that it has started commercial crude production at Iraq’s Badra oilfield
The current output of the Badra oilfield is 15,000 bpd and the world’s largest corporate buyer of LNG aims to produce 170,000 bpd within three years, according to its officials.
According to officials from the South Korean firm, operations at the Badra oilfield have been largely unaffected by the conflict in Iraq as it is in an area under the central government’s control.
KOGAS holds a 22.5 per cent stake in the project. Russia’s Gazprom Neft, Malaysia’s Petronas Caigali and Turkey’s TPAO also have stakes in the project, stated Reuters.
