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Image courtesy of Gazprom Neft.

Russia-based Gazprom Neft began deliveries of crude from the Badra oil field to its Central Gathering Point (CGP), Gazprom said July 25.

State-owned Gazprom, the fourth largest oil producer and third largest refiner in Russia, operates the Badra field and has a 30 percent share in the project.

The company currently has two wells producing at Badra.

A third well is expected to begin producing soon and drilling of a fourth well started in June 2014.

When reservoir capacity is reached, the company will start commercial deliveries to Iraq’s main pipeline.

The project’s initial production volumes are estimated at around 15,000 barrels daily.

Peak production of 170,000 barrels per day or 8.5 million tonnes per year will be reached in 2017 and will remain steady for 7 years, Gazprom said.

The Badra oil field is located in Wasit Province in Eastern Iraq.

Reserves are estimated at 3 billion barrels of oil.

Gazprom signed the development contract for Badra with the Iraqi government in 2010.

The project is scheduled to last 20 years with a possible 5-year extension.

17 production wells and 5 injection wells are planned to be drilled at the deposit.