Russia's Gazprom Neft to ship off first cost oil tanker from Iraq'a Badra field in April

MOSCOW, April 2. /TASS/. The Russian oil producer Gazprom Neft plans to ship off the first tanker with cost oil /reimbursement of investors’ costs on the field’s development/ from the Badra field in Iraq in April, Gazprom Neft First Deputy CEO Vadim Yakovlev said Thursday, adding that the tanker’s capacity will total 500,000 barrels.

Yakovlev said that currently 15-17,000 barrels of oil is being produced at the field. Gazprom Neft and the Iraqi government continue talks on correcting timeline for shipment and volume of cost oil, he added.

Earlier Gazprom Neft First Deputy CEO said that the company would gain the right for the oil after it manages to maintain the production level at at least 15,000 barrels a day for three months. The company expected the first cost oil would have been shipped off in Q1 2015.