Project Profile
Location: Najaf and Muthanna provinces, Iraq
Reserves: 1 billion barrels of oil
Area: 8,000 square kilometres
Start-up Year: -
The Block 12 is located in the Najaf and Muthanna provinces, approximately 80 km southwest of Samnawa city and about 130 km west of Nasriya. The block lies within the southwest part of the Western Desert and covers an area of around 8,000 km2. The block is in the underexplored Salman tectonic zone. The well drilled on this block indicated oil shows/stains from Kifl and Nahr Umr Formations. Bashneft gained the right to operate hydrocarbon exploration, development and production at Block 12 following a licensing round in June 2012. To implement the project, a consortium was established, with Bashneft being represented by its wholly owned subsidiary, Bashneft International B.v. , which owns a 70% stake in the consortium and acts as the operator of the project. On November 8, 2012, the consortium signed a 25-year exploration, development and production service contract (EDPSC) with the Iraqi state-owned South Oil Company.
In June 2012, the right for geological exploration, development and production of hydrocarbons at Block 12 in Iraq based on the results of the licensing round was obtained by Bashneft, which passed into the control of Rosneft in October 2016. A company, which is part of Rosneft Group, is the operator of exploration and development of Block 12. Chinese Zhongman Petroleum and Natural Gas Group is a general contractor for drilling operations.
Operators:
Bashneft: Operator with 70% interest
Premier Oil: 30% interest
Contractors:
Zhongman Petroleum and Natural Gas Group (ZPEC)(China) : Drilling Service