By John Lee.

Russia’s Gazprom Neft has reportedly revised down its output plateau for the Badra oil field.

Denis Sugaipov, head of Gazprom Neft’s department of large projects, told Reuters that the consortium running the project has proposed setting the output plateau for the next few years at its current level of around 85,000 bpd, as the field is more geologically complex than previously thought.

This is half the level initially planned as a plateau to be reached in 2017.

The field is being developed by Gazprom (30%), KOGAS (22.5%), Petronas (15%), TPAO (7.5%), Iraqi state-owned Oil Exploration Company (25%).

According to Reuters, $4.0 billion has been invested in the plant so far, including $1 billion for a gas processing plant; another $2.5 billion is planned to be invested by 2030.

(Source: Reuters)

The state-run Turkey Petroleum Co. (TPAO) has discovered oil in the Sirnak province, near the southern border with Iraq and Iran.

According to a report from UPI, the company’s regional director, Gokhan Akin, said:

“The oil at the well is at the value of the neighboring country’s [Iraq] oil but the test studies for the daily capacity will be completed within this week.”

The company offered no estimate of the reserve potential at the Caliskan-1 well, which it started exploring six months ago.

(Source: UPI)