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(Image courtesy of Gazprom Neft)

Gazprom Neft announced on Monday that it has started oil production at the Badra field in Iraq.

The Badra field is located in the Wasit province in eastern Iraq.

The company hopes production will reach 15,000 bpd later this year when the full infrastructure will be in place.

Peak production of 170,000 bpd is expected to be reached in 2017 and remain stable for seven years, according to the company.

Gazprom Neft is the oil arm of natural gas producer Gazprom.