The representatives of LUKOIL and the Ministry of Oil and South Oil Company hold regular meetings to discuss terms and conditions of the existing contracts, trying to ensure inflow of investments into the country regardless of the market conditions.
Nawar Abdulhadi: As an industry expert and LUKOIL Senior VP, how would you summarize your experience working in Iraq?
Gati Saadi Al-Jebouri: I would summarize our experience in Iraq as “big challenges and incredible results”. Both of our projects in Iraq are “greenfield”. Moreover, while West Qurna-2 was already explored in the 70’s of the last century, the large discovery at Block 10 was made by SOC (South Oil Company), LUKOIL and Inpex just several months ago.
Currently, West Qurna-2 is leading all “greenfield” projects in Iraq in terms of production volume. To achieve these results, we have established good working relationship with the local population at the contract area, conducted demining and built modern production facilities. We can definitely state that the projects which we are implementing in Iraq are unique not only for the company but for the international oil industry as a whole.
Nawar Abdulhadi: What is the role of LUKOIL in enhancing projects performance and research?
Gati Saadi Al-Jebouri: LUKOIL pays special attention to the front-end engineering, including assessment and interpretation of geological data, preparation and updating of the field development feasibility studies, and selection of asset development options depending on the external conditions. Thus, we ensure that all the decisions made are optimal for the development of a particular asset. Besides, we work very closely with the local population, as we believe that mutual understanding and cooperation with people on the contract area has an immediate effect on the efficient implementation of our projects.
Deprecated: related_posts is deprecated since version 5.12.0! Use yarpp_related instead. in /srv/users/ibn/apps/ibn/public/wp-includes/functions.php on line 5211