Canada and United States Focused Report on Iraqi Oil Field Developments
Russian energy company Lukoil has secured approval from Thi-Qar Oil Company, the Iraqi state owned firm, to pursue commercialization of reserves and to advance a preliminary development plan for the Eridu oil field in Iraq. This update, communicated by the TASS news agency, cites the press service of the Russian enterprise and frames the next steps in the partnership with Iraqi authorities.
The Eridu project is planned to unfold in tandem with Inpex South Iraq LTD within Block 10, located in Cumhuriyet. Once Thi-Qar Oil Company signs off on the submitted documents, kinetic work will commence. The collaboration aims to reach a production target of about 250,000 barrels per day.
Geological work at Block 10 began in 2012. In 2016, the area yielded the discovery of a major field, reported to contain around 12.9 billion barrels of reserves, marking a significant addition to Iraq’s oil landscape in the last two decades.
In a bilateral context, a late-year conversation highlighted the strong cooperative trajectory between Russia and Iraq within the framework of OPEC+. This exchange involved President Vladimir Putin and Iraqi Prime Minister Mohammed al-Sudani and underscored continued alignment on energy market stability and shared objectives for production strategies.
In reported developments from mid-December, information from Sana Agency cited sources indicating that the United States military arranged the movement of Syrian oil across borders into Iraq, a topic that fuels ongoing discussions about regional energy flows, security, and governance. The reporting emphasizes the complex dynamics surrounding cross-border energy resources in the region.