Gazprom Neft received 2.5 mln barrels of oil in Iraq in 2015

​Gazprom Neft received the first three lots of oil at the total volume of 2.5 mln barrels as investment return at the Badra deposit in Iraq, Gazprom Neft reports.

In Feb 2015 Gazprom Neft started commercial extraction at the Garmian block in Kurdistan, in Feb-December 2015 the extraction volume made up 98.3 thousand tons of oil.

Gazprom Neft connects the start of commercial extraction at the deposits in Iraq with the growth of operational expenditure for hydrocarbons extraction at its affiliates outside Russia which made up 18% against 2014.

In Gazprom Neft’s report for 2015 it is said that testing and devaluation was held in 2015 due to the oil price fall. As a result the loss from devaluation in respect of the assets in the exploration and extraction segments in Iraq made up in total 11.6 bln roubles.