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
|Has ISIS Killed Its Golden Goose?||Ahmed Mousa Jiyad||The New Oil Production Targets|
|Ruth Lux||Baghdad’s Revenue-Sharing Deal: Avoiding a...||John Cookson||Tuesday is Next Deadline, but...|
|Madeleine White||Mobile Miracles – Educational Vision||Robert Tollast||Defying Daash in Karbala and Baghdad|
|John Schnittker||Water and Wheat: ISIS Weapons?||Tariq Abdell||Iraq: Reconciliation or Partition?|