Block 12, located in the provinces of Najaf and Muthanna, is part of the unexplored region with the greatest potential for oil in Iraq — the Western Desert. The block area — about 8,000 square meters. km.
The company "Bashneft" took part in the final stage IV licensing round conducted by the Iraqi Oil Ministry in Baghdad on 30-31 May 2012. As part of a consortium with companies PVEP and Premier Oil «Bashneft" filed an application for Block 10 and Block 12. As a result of subsequent negotiations, initiated by "Bashneft", the Iraqi Oil Ministry has provided the Russian company for exploration and development of Block 12 with a coupon rate $ 5/bbl n. e. In addition, the Iraqi Oil Ministry has provided "Bashneft" operator status of exploration and development of Block 12, which means the complete independence of the Company’s decision-making on key issues of the project. As a partner, "Bashneft" in the project is the company Premier Oil. "We are pleased that our active job search and evaluation of promising international projects gave the first serious result — said President of "Bashneft" Alexander Corsica. — Receipt by the status of the operator on Block 12 is a recognition on the international level of experience and qualifications "Bashneft" and is an important milestone in our strategy to expand the geography of its activity. " June 28 in Baghdad, the Iraqi Oil Ministry held a meeting of the President "Bashneft" Alexander Corsica with Iraqi Oil Minister Abdul Karim Lueybi (Abdul Kareem Luaibi), during which they discussed the project.