Gazprom wins in Badra

BAGHDAD - Gazprom, alongside junior partners TPAO, Kogas and Petronas, take Badra oil field after negotiating a bid with the Ministry of Oil. The companies initially offered a $6 per barrel remuneration fee and a production target of 170,000 barrels per day (bpd). The Ministry, however, refused stating that the most they would be willing to accept was a $5.50 The companies, sole bidders, agreed.

Gazprom will take 40 per cent of the Badra field; Kogas 30 per cent, Petronas 20 per cent and TPAO 10 per cent.