Eridu holds estimated 7 billion-12 billion barrels Lukoil holds 60% stake in field, in southern Iraq Could yield 250,000 b/d at peak production Lukoil has submitted to Iraq’s oil ministry a preliminary development proposal for Eridu field, which may yield an estimated 250,000 b/d at peak, helping OPEC’s second biggest producer in its efforts to boost crude production capacity. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The proposal’s submission will allow the ministry to study and approve the field’s development, the ministry said in a Nov. 12 statement. Initial indications point to Eridu holding potential resources ranging between 7 billion and 12 billion barrels, the ministry added. The field, located in Block 6 in southern Iraq, was discovered in 2016. Lukoil holds a 60% interest in the field and Japan’s Inpex Corp. 40%. In October 2021, Lukoil and Inpex applied to Iraq’s state-owned […]