Middle East

Iraqi oilfield starts production

Dubai: South Korea’s Kogas and Russia’s Gazprom on Monday announced they have started commercial production of crude oil from the Badra field in Iraq, an area near the Iranian border to the south of Baghdad that is still not hit by the onslaught from Islamic State.

Current production is just 15,000 barrels day, but the aim is to up that figure to 170,000 within three years.

Oil will move by pipeline to the port of Basra for export.  [02/09/14]

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