Lukoil and INPEX South Iraq have been granted government approval for the development of its Eridu project in Iraq. The onshore oil field’s declaration of commerciality of reserves and development plan have were submitted in November 2021.
The developers are now able to develop the field, whose reserves are calculated at 12.9 billion barrels. The plan is to reach 250,000 barrels per day of production.
The Eridu discovery was made in 2017 as part of Block 10. Lukoil is the block’s operator with a 60% stake, while Inpex owns the remaining 40%.
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