Economics
Russia’s Bashneft completes seismic surveys at Iraq’s Block 12
Bashneft International, the operator of Bashneft’s overseas upstream projects, has completed field seismic surveys at Iraq’s Block 12 as part of the geological exploration program approved by the nation’s oil ministry. Oil Exploration Company, an Iraqi company specializing in geological and geophysical exploration, which won the open tender in the spring of 2014, was employed as a contractor to conduct seismic surveys at Block 12. The company performed 3D seismic surveys covering an area of 849 km2 and 2D seismic surveys along two lines with a total length of 192 linear km. Investments during the five-year geological exploration program are expected to total $120mn. (World Oil)
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