Lukoil to Discuss Expansion in Iraq

By John Lee.

Lukoil president Vagit Alekperov (pictured) is to meet Iraq's Minister for Oil, Adel Abdul-Mahdi [Adil Abd al-Mahdi], to discuss the expansion of the company's operations in the country.

The head of the Russian oil company told journalists:

"I will be in Baghdad on October 13 to meet the oil minister. I hope, we will continue our talks on the expansion of our operations in Iraq."

Lukoil currently has a 75 percent stake in Iraq's giant West Qurna-2 oil field in Iraq, and has the right to further develop and explore Block 10, which lies 120 kilometers to the west of Basra.

The company is also believed to be considering a joint venture with Russian state-owned exploration and production company Zarubezhneft to develop the Nassiriya oil field and help build an associated refinery.

(Source: RIA Novosti)

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