Baghdad The Russian Gazprom Neft, the oil arm of Gazprom, confirmed its intention to continue working on its projects in Iraq, where the Russian company is participating in several projects.

“Gazprom Neft will not withdraw from its projects in Iraq, and the company is ready to expand cooperation, but after reaching agreements on the Badra field,” Vice Chairman of the Board of Directors of the company, Vadim Yakovlev, told reporters, during his participation in an energy conference in Dubai today, Thursday.

He added, “There are opportunities to expand cooperation, primarily in the Badra field. Now, about 50% of the reserves are being developed effectively. That is, exploration can continue in Badra, and we are ready to do so, but we must first reform what we have already agreed on in principle.”

Yakovlev pointed out that: agreements with Baghdad are necessary to continue developing the Badra field to recover the financial cost of the project.

Gazprom Neft, in partnership with the Iraqi government, is working to extract oil and gas from the Badra field in Wasit Governorate as part of a project that is considered the largest and most advanced in Iraq

Source: National Iraqi News Agency