OREANDA-NEWS. June 21, 2010. An opening meeting of the Joint Management Committee acting as a supervisory body for the Iraqi Badra oil field development was held in Kirkuk in the north Iraq. The meeting was attended by Gazprom Neft delegation led by Head of Major Projects Directorate Marat Atnashev.

In the course of the meeting, a Gazprom Neft’s subsidiary Gazpromneft Badra B.V. acting as a Project Operator presented the Project Progress Report. Since the oil field development contract came into force four months ago, key organizational and legal issues have been settled and preliminary agreements on the terms and stages of the field development have been achieved.

Further, the participants to the meeting considered the status of the Joint Venture Agreement involving the project parties, and agreed upon the JMC operating conditions and holding of required tenders.

Besides, the discussion covered the issues of pipeline and associated gas utilization facilities construction, as well as the need to demine the field area. To perform the procedure, the Ministry of Ecology of Iraq will involve a special experienced contractor.

The next Committee meeting is to be held in September 2010 in Moscow.