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By John Lee.

Russian oil firm Lukoil has signed an agreement extending its contract at Iraq's West Qurna 2 oilfield by 10 years, taking it to 2045.

Full statement from Lukoil:

The representatives of PJSC LUKOIL and Basra Oil Company signed a Supplementary Agreement to the contract on the development and production of oil at the West Qurna-2 field. The singing took place in Baghdad. The agreement provides for better conditions and prolongation of the service contract for 10 years (until 2045), investments into further development of the project, and gradual doubling of the field's output with plateau level reaching 800 thousand barrels per day. This will result in an increase in the economic efficiency of the West Qurna-2 project.

The field development plan envisages bringing new multi-well pads into production, commissioning oil treatment facilities and complex gas treatment facilities for the Yamama formation, construction of export pipelines and water flooding units, as well as expansion of the tank battery.

The development of the West Qurna-2 project under the Supplementary Agreement will promote creation of new jobs for Iraqi citizens. Under the agreement LUKOIL also aims to construct social infrastructure facilities for the locals.

The conclusion of the Supplementary Agreement is a next step in the long-term strategic partnership between LUKOIL and the Ministry of Oil of Iraq, as well as confirms the parties' commitment to continue their joint work on the development of the energy sector of the country.

(Source: Lukoil)

By John Lee.

During his official visit to the Russian Federation, Deputy Prime Minister for Energy and Oil Minister, Hayan Abdul Ghani, met with Alexander Dyukov, Chairman of Gazprom Neft's Board of Directors, along with other company officials. The Russian Ambassador to Iraq, Elbrus Kutrashev, also attended the meeting.

The discussions primarily revolved around bilateral cooperation prospects and the development of joint projects aimed at enhancing Iraq's oil and energy industry.

According to a statement from Iraq's Ministry of Oil, this collaboration serves mutual interests. Among the attendees were Ali Maaraq, the Ministry's Deputy for Distribution Affairs, Hamdan Awijil, Ministry Advisor, and Hussein Kazem Laibi, General Director of the Maysan Oil Company (MOC).

Representing Gazprom Neft were Vadim Yakovlev, Deputy General Director, Renat Bakitov, Executive Director of Gazprom in Iraq, Vyacheslav Nikonurov, Head of International Relations, and Konstantin Abramov, International Relations Officer.

This meeting took place during the official visit of the Deputy Prime Minister for Energy and Oil Minister to the Russian Federation. It underscores the commitment to enhancing cooperation between Iraq and Russia in the energy and oil sectors.

Gazprom Neft operates the Badra oilfield in Wassit province, in eastern Iraq.

(Source: Ministry of Oil)

By John Lee.

Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, arrived in Moscow on Tuesday for a meeting with the President of the Russian Federation, Vladimir Putin, as part of his official visit to the country.

According to a statement from the Media Office of the Iraqi Prime Minister, the meeting included discussion of the development of the oil industries sector and the presence of Russian oil companies in Iraq.

The Kremlin said in a statement:

"The energy sector is certainly the main aspect of our collaboration. Our largest companies operate rather successfully in your country. Our companies have invested a total of about $19 billion, and our collaboration, already quite effective in this area, is only going to expand.

"We coordinate our work within the OPEC + format, and we are doing this rather successfully in order to stabilise the situation on global markets. On the whole, we are enjoying much success, and I hope that we will continue working in this manner moving forward."

More here and here.

(Sources: Media Office of the Iraqi Prime Minister, The Kremlin)

By John Lee.

Dr. Qahtan Taha Khalf, the Ambassador of the Republic of Iraq in Moscow, met with Alexey Repik, the President of Business Russia, on Tuesday.

Business Russia describes itself as "an All-Russia Public Organization which represents the interests of private non-resource businesses - local industry leaders."

During the meeting, they discussed ways to enhance trade and industrial relations, explore investment opportunities, and increase trade between the two countries.

Additionally, they addressed the Development Road Project and the potential for leveraging the expertise of leading Russian companies in residential complex construction.

(Sources: Ministry of Foreign Affairs, Business Russia)

By Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq: Release Kidnapped Scholar

The Iraqi government should take steps to ensure the immediate and unconditional release of Elizabeth Tsurkov, a US-based scholar who was kidnapped in Iraq on March 21, 2023, four organizations including Amnesty International have said.

Tsurkov, a dual Russian and Israeli citizen, is a doctoral student in the Politics Department at Princeton University in the US. New Lines Magazine reported that she was in Iraq conducting field research on Shia movements in Iraq when she was kidnapped in the Karrada neighborhood of Baghdad. Her family said that she had emergency spinal surgery to treat a herniated disc eight days before she was abducted.

"Elizabeth Tsurkov's abduction falls within a pattern of targeted kidnappings in Iraq by state-affiliated and non-state actors, all carried out with impunity," said Adam Coogle, deputy Middle East director at Human Rights Watch. "The Iraqi government is responsible for doing everything it can to ensure her safety and release and for holding her abductors accountable."

More here.

By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

The Real Reason Russia Is Ramping Up Oil Production In Iraq

With the future of independent oil supplies from the KRI looking highly precarious, Russia is moving firmly into the last phases of its plan for Iraq, as highlighted by serious discussions over the past two weeks for it to increase its presence in the country's oil fields.

Click here to read the full report.

By John Lee.

An Iraqi government spokesman has said that Iraq is considering reviving plans to use an oil export pipeline through Syria.

Following Prime Minister Muhammad Shia'a Al-Sudani's visit to the country last month, Basem Al-Awadi told the state-owned Iraqi News Agency (INA) that Iraq is ready to discuss with Syria the development of the oil pipeline leading to the Syrian port of Baniyas (Banias) on the Mediterranean Sea, in the event that conditions in Syria improve.

He added that Iraq has contributed to Syria's return to the Arab League, that it opposes the economic sanctions imposed on Syria, and that it is working to ensure Syria's economic recovery.

The pipeline from Kirkuk to Baniyas has not been operational since 2003. An initial agreement was reached in 2010 to build two new pipelines, one for lighter crude, and one for heavier, with further details announced in 2011, but this was not implemented.

According to a recent article from Iraq Business News (IBN) expert blogger Ahmed Mousa Jiyad, the Syrian pipeline has several advantages, but also many risks.

The Syrian regime, backed by Russia and Iran, has been accused of widespread atrocities during the ongoing civil war in country.

(Source: Iraqi News Agency)

By John Lee.

Mr. Hayan Abdul Ghani, Deputy Prime Minister for Energy and Minister of Oil, welcomed Mr. Ivan Romanovski, Lukoil's Vice President for the Americas, Africa, and the Middle East, along with the accompanying delegation, including Mr. Alexey Yakovlev, General Manager of Lukoil Middle East Limited, and the company's Baghdad office director.

During the meeting, they discussed the development plans for the West Qurna 2 oil field in Basra province.

The meeting was attended by Mr. Basim Mohammed Khadhir, Deputy Minister for Extraction Affairs, Mr. Ali Ma'araj, Deputy Minister for Distribution Affairs, and the Assistant Director of the Oil Contracts and Licensing Department.

(Source: Ministry of Oil)

By John Lee.

Iraqi Prime Minister Mohammed Shia al-Sudani visited Syria on Sunday, meeting with Syrian President Bashar al-Assad in Damascus.

In the first such visit by an Iraqi prime minister in at least 12 years, Sudani said his aim was to, "discuss cooperation in all fields, and to strengthen the relationship, which we believe is important to develop."

The move comes at a time when Syria is actively seeking acceptance from other countries following a protracted civil war, which is still continuing. The Syrian regime, backed by Russia and Iran, has been accused of widespread atrocities.

According to The New Arab, immediately before the visit, Iraq reportedly deported three Syrian Kurdish refugees to Syria, dispite concerns about their safety in their home country.

(Source: Media Office of the Prime Minister, The New Arab)

By John Lee.

A British court has dismissed a claim for defamation against the Conservative Middle East Council (CMEC) and its Managing Director, former Conservative MP Charlotte Leslie.

Businessman Mohamed Amersi, who founded the rival Conservative Friends of the Middle East and North Africa (COMENA), claimed that emails and documents sent to influential party members in December 2020 and January 2021 caused serious harm to his reputation.

Among the 22 alleged imputations were that Mr Amersi had undesirible connections to Russia and Iran, that he was implicated in a large-scale tax fraud and money laundering case in Nepal, and that he made donations to the Conservative Party for the purpose of obtaining a knighthood or peerage.

Mr Justice Nicklin struck out the case, saying that Mr Amersi had failed to prove that he had been harmed by the communications.

The judge also said that Mr Amersi's actions, "strongly suggest that [he] has treated this libel action as providing him with an opportunity also to seek to embarrass (and possibly to punish) the Conservative Party for, as he perceives it, having wronged him. That is not a legitimate purpose of civil proceedings for defamation."

The Conservative Middle East Council (CMEC) aims to forge trusted relationships and strengthen understanding between the UK and the Middle East and North Africa (MENA).

Click here to read the full judgement.

(Source: judiciary.uk)