Posted on 13 March 2012 .
Lukoil plans to boost investment at its West Qurna-2 oil field in Iraq to about $2 billion this year.
Russia’s largest non- state company plans to carry out drilling and begin construction of a pipeline as it prepares the field for the start of production.
The company invested more than $200 million in the project last year, a Moscow-based spokesman for the company’s overseas unit told Bloomberg.
Last week, Iraqi oil minister, Abdul Karim Luaibi [Elaibi], approved the sale of Statoil‘s 18.75% stake in the oil field to Lukoil, the project operator.
Dr. Mark A. DeWeaver
|Will the CBI Try Dinar QE?||Ahmed Mousa Jiyad||$14.4bn Compensation to IOCs: How...|
|Madeleine White||A Message of Hope on Int’l Women’s Day||Robert Tollast||Is the Islamic State “losing?”|