Bashneft became the operator of the exploration and development of Block 12 in Iraq

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.

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