Lukoil and Japan’s INPEX will start developing an oil field in Iraq

Lukoil and INPEX (Japan) have received approval from the Oil Company of Dhi Qar Province (Iraq) for a preliminary proposal for the development of the Eridu oil field discovered at block 10, the Arabica telegram channel reports.

Work began there back in 2012, as a result of which this field was discovered with reserves of 12.9 billion barrels. The development will be done in partnership – 60% from our company and 40% from the Japanese.

EADaily recalls that Iraq is one of the most attractive countries in terms of investment in the oil sector due to its colossal hydrocarbon reserves.