Mubasher: Gazprom Neft is set to expand its investments in the Iraqi Badra oilfield project, the company’s CEO, Alexander Dyukov said on Wednesday.
The Russian oil giant and its partners plan to invest $2.5 billion in the project until 2030, as reported by Reuters.
Investments by an international consortium of Gazprom, South Korea’s Kogas, Malaysia’s Petronas, and Turkey’s TPAO, have amounted to $4 billion, up till now.
Gazprom Neft is the project operator.
The oilfield is now producing 85,000 barrels per day, according to the Iraqi oil minister.