Iraq’s Lukoil-operated West Qurna 2 oil field to reach peak output in 2027

Iraq’s southern oil field of West Qurna 2, which is operated by Lukoil, is expected to reach peak production of 800,000 b/d by 2027, the country’s oil minister said. In May 2018, Lukoil signed a new development plan that provides for an oil production plateau of 800,000 b/d, according to the company’s website. The website also says that West Qurna 2 is one of the world’s largest oil fields with around 14 billion barrels of initial recoverable reserves and the field pumps about 9% of total Iraqi oil production. Lukoil also has submitted to Iraq’s oil ministry a preliminary development proposal for Eridu field, which may yield 250,000 b/d at peak output.