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Lukoil Presents Initial Development Plan for Eridu Oil Field

Lukoil has presented a preliminary development plan for the Eridu oil field.

According to Argus Media on Sunday, Russia's Multinational Energy Corporation Lukoil PJSC has presented a preliminary development plan for the Eridu oil field in Iraq's south.

The field which was discovered in 2017, has the potential to produce 250,000 barrels per day at its maximum rate, according to the assessment.  Its oil reserves are believed to be between 7 and 12 billion barrels.

Lukoil owns a 60% stake in Block 10, which includes the Eridu field, and Inpex Corp. owns the other 40%.

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