Equipment for Badra Oil Field arrives

BAGHDAD / IraqiNews.com: Russian Gasprom company announced today the arrival of all equipment related to Badra oil field, east of the province, as stated by media director of the province.  Majid Al-Attabi told IraqiNews.com that the company started work before two months, which covered civil and laboratory works.  “it is expected that the extraction of oil shall be at the beginning of the next year”, he added.  The oil contract was given to a group of companies including Gasprom Korean Kogas, Turkish TBO and Malaysian Petronas with a cost of two billion dollars.  The duration of the contract is 20 years , liable to be extended for another five years.  The company should coordinate with the Iranian side, because it is a joint oil field.  Gasprom has 40%, TBO 10%, Kogas 30% and 20% for Petronas.  Kut city, center of Wassit province , lies 180 south east of the capital , Baghdad. RM (TI)/SR 601