The Russian operator informed the Iraqi Ministry of Oil that it has “fulfilled its contractual obligations for first commercial production” at the major project on Wednesday.
Lukoil said it had “successfully maintained an average daily production of at least 120,000 barrels for 90 days”, meaning it has passed the threshold to begin recovering costs and receiving remuneration.
Daily production is currently at 200,000 bpd, it added.
“The
