Gazprom Neft begins commercial production and oil deliveries from the Badra field in Iraq

Gazprom Neft, the operator of the Badra oil field in Iraq, announces that first oil from the field is now being delivered to Iraqs main pipeline system for transfer to the export terminal in Basra (Persian Gulf). Current deliveries from Badra to the pipeline stand at over 15, 000 barrels of oil per day and this level should be maintained until the end of 2014. According to the service contract with the Government of Iraq, the consortium of investor companies will begin receiving a share of the oil produced.