Lukoil Boosts Crude Output At Iraq’s West Qurna 2 Field

Lukoil has increased crude oil production at Iraq’s West Qurna 2 field by 80kbpd to a total of 480kbpd, an oil official told Reuters, in Iraq’s attempt to ramp up oil production capacity to around 7mbpd by 2027.

• Iraq last year announced plans to increase its oil production capacity to around 7mbpd in 2027. The capacity increase will come from the country’s fields that are currently undergoing development including, West Qurna 2, Rumaila and green fields that are in development stages or early production, SOMO said.
• Iraq’s crude oil exports have declined since end-March, after the country was forced to halt around 470kbpd of crude exports from the northern region through the export pipeline to the Turkish port of Ceyhan.
• The Iraqi government is currently awaiting an answer from Turkey’s Botas to resume flows. It has hoped for the greenlight from Turkey once the final round of elections on 28 May took place.