Lukoil Says Granted Approval To Commercialize Eridu Field Reserves In Iraq

Umer Jamshaid Published March 06, 2023 | 04:50 PM

Lukoil Says Granted Approval to Commercialize Eridu Field Reserves in Iraq

MOSCOW (UrduPoint News / Sputnik - 06th March, 2023) Russia's second-largest oil producer, Lukoil, announced on Monday that it was granted approval to commercialize reserves of the Iraqi oil field of Eridu.

"PJSC LUKOIL and INPEX SOUTH IRAQ LTD received approval from Iraqi stateowned Thi-Qar Oil Company (TOC) for Declaration of Commerciality of Reservesand Outline Development Proposal for Eridu oilfield located within Block 10 in Iraq," the company said in a statement.

The Eridu field was discovered by Lukoil in 2016, which became the biggest oil field discovery for Iraq over the past two decades.

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