A consortium led by Russian state oil producer OAO Gazprom Neft (SIBN.RS) has picked Schlumberger Ltd. (SLB) to drill the first wells at the Badra field in Iraq , the Russian company said Monday.

Schlumberger has been contracted to drill 11 wells over a three-year period, Gazprom Neft said.

The consortium--which also includes South Korea 's Korea Gas Corp. (036460.SE), or Kogas, Turkish Petroleum Corp., or TPAO, and Malaysia 's Petronas--plans to start production from the Badra field in 2013.

Gazprom Neft estimates total costs for the Badra project at $2 billion and plans to drill 17 wells by 2017, when production should reach 170,000 barrels a day.

Gazprom Neft is the oil arm of Russian gas giant OAO Gazprom (GAZP.RS).
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