Lukoil to Invest $30bn at West Qurna-2

By John Lee.

Ravil Maganov (pictured), who oversees Lukoil's exploration and production, has said total investment in the West Qurna-2 field was expected to exceed $30 billion.

At its peak in 2019, he said he expects oil production at the field to hit 1.25 million bpd.

The world's second-largest undeveloped field, with recoverable oil reserves of around 14 billion barrels, started production in March.

(Source: Reuters)

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