West Qurna | |
Country: | Iraq |
Offonshore: | onshore |
Location Map: | Iraq |
Coordinates: | 30.8853°N 47.2908°W |
Relief: | yes |
Owner: | Iraq National Oil Company |
Contractors: | ExxonMobil, Shell, Lukoil, Statoil |
Discovery: | 1973 |
Recover Oil Bbl: | 43000 |
West Qurna (ar|غرب قرنة) is one of Iraq's largest oil fields, located north of Rumaila field, 65 km northwest of Basra. West Qurna is believed to hold of recoverable reserves – making it one of the biggest oil fields in the world. Until 2009, the field was closed to Western firms.[1]
In November 2009, an ExxonMobil - Shell joint venture won a $50 billion contract to develop the 9Goilbbl West Qurna Phase I.[2] As per Iraqi Oil Ministry estimates, the project required a $25 billion investment and another $25 billion in operating fees creating approximately 100,000 jobs in the underdeveloped southern region. ExxonMobil was to increase the production from 0.27to within seven years. The Iraqi government, in turn, was to pay $1.90 per barrel produced by ExxonMobil-Shell alliance.[3] In November 2023, PetroChina took over as the main operator of West Qurna 1, replacing ExxonMobil.[4]
In December 2009, Russia's Lukoil and Norway's Statoil were awarded the rights to develop the 12.88Goilbbl West Qurna Phase II oil field. The Lukoil-Statoil alliance will receive $1.15 per barrel that they produce. In addition, they will work to raise output from West Qurna 2 to by 2012[5] and 1.8Moilbbl/d over a period of 13 years.[6] [7] In March 2012, Statoil sold its 18.75% stake in the field to Lukoil, giving the Russian firm a 75% stake, and leaving the Iraqi state oil company with 25%.[8]
In 2023 Lukoil announced it is planning to double the production of oil from the West Qurna Field 2, to 800,000 bpd.[9]
A new joint multibillion-dollar water-injection project will be awarded to operator ExxonMobil. The project includes construction of a plant which will help 6 major oil-field development projects by producing 10Moilbbl12Moilbbl of water per day. The alliance will include Shell, Eni, Lukoil, CNPC and Petronas.[10]