An international consortium led by Gazprom Neft, the oil arm of energy giant Gazprom, has requested Iraqi authorities to help clear mines at the Badra oil deposit, the Iraqi media reported on Sunday.
Gazprom Neft said that mine-clearing at the deposit with estimated reserves of 2 billion barrels of oil equivalent was required to ensure the company's risk-free operation on the site.
According to the Iraqi Mine Clearance Organization, over 27 million unexploded shells and mines have been left on the territory of Iraq since the 1980-1988 Iran-Iraq war.
The largest number of mine fields is located near the border town of Badra.
The consortium, which also includes South Korea's KoGas (with a 22.5% stake in the project), Malaysia's Petronas (15%) and Turkey's TPAO (7.5%), won the tender to develop the Badra oilfield in late 2009.
Under the terms of the agreement, the consortium where Gazprom Neft holds 30% and the Iraqi government represented by Oil Exploration Company 25%, will develop the Badra oilfield on the border with Iran over 20 years with the possibility of a 5-year prolongation, and will have a production capacity of 170,000 barrels per day.
Investment in the project is expected to hit about $2 billion.
BAGHDAD, March 28 (RIA Novosti)
