Asset Report

West Qurna 2

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30 June 2017

West Qurna 2

Report summary

The entire West Qurna/Rumaila structure, located in the Basra province, is one of the largest oil fields in the world, second only to Saudi Arabia's Ghawar field. The northern section, West Qurna Two remained undeveloped until LUKOIL and Statoil were awarded a Technical Service contract (TSC) in 2010. Statoil exited the project in 2012, with LUKOIL taking over its interest. The field was brought onstream in March 2014, and reached its initial target of 3 months production at 120,000 b/d in June 2014.

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Issues common to the southern oil developments
      • Issues specific to West Qurna 2
  • Location maps
    • Technical Service Contract
    • 1997 PSC
    • Mishrif Formation
    • Yamama Formation
    • Sadi Formation
    • Zubair Formation
    • Ratawi Formation
    • Najmah Formation
  • Well data
  • Exploration
    • Oil
    • Gas
    • Condensate and LPG
    • Oil
    • Gas
    • Key Development Metrics
      • Wells
      • Processing facilities
      • Infrastructure
      • Supplier information
    • Pre-2010
    • TSC development plan
      • Phase one (Mishrif early oil)
      • Phase two (Mishrif full field development)
      • Phase three (Yamama)
  • Infrastructure
    • Capital costs
    • Operating costs
    • Crude oil
      • Basrah Light
      • Basrah Heavy
    • Sales Gas
    • Signature bonus
    • Training fee
    • Service fees
    • Cost oil
    • Remuneration fees
    • Performance factor
    • Corporation tax
    • Cash flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Condensate Price
    • LPG Price
    • Global Economic Model (GEM) file
    • Cash flow
      • West Qurna 2 TSC Cash Flow

Tables and charts

This report includes 24 images and tables including:

  • Key facts: Table 1
  • Index Map
  • Detail Map
  • Well data: Table 1
  • Infrastructure: Table 1
  • Participation: Table 1
  • Geology: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • West Qurna Phase 2
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Fiscal and regulatory: Table 1
  • Economic analysis: Table 1
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining PV Price Sensitivities

What's included

This report contains:

  • Document

    West Qurna 2

    PDF 7.07 MB

  • Document

    West Qurna 2

    XLS 662.50 KB

  • Document

    West Qurna 2

    ZIP 7.57 MB

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