Lukoil to Invest $1.5bn in West Qurna-2 this year

By John Lee.

Lukoil boss Vagit Alekperov (pictured) told reporters on Monday that investment in the West Qurna-2 oil field is estimated at $1.5 billion in 2017.

He said the company has already been compensated for about $6 billion of historical costs, adding that he expects to negotiate a revised contract with Iraq with the aim of getting additional profit.

(Source: Russian Construction)

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