LUKOIL has begun supplying computers and other equipment for schools of Madeina and Izzaldin-Salim municipalities under the social program of West Qurna-2 project. The program aims at developing facilities of educational, medical and sports institutions in the districts bordering on the contract area. This work is based on agreements concluded with the administrations of Madeina, […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced that seven international oil companies (IOCs) have been selected to bid for the development of its Nasiriya oilfield and refinery: Zarubezhneft, from Russia (Up and Downstream); CNPC, from China (Downstream); Brown Energy, from US (Downstream); Reliance Industries, from India (Up & Downstream); Lukoil, […]
By John Lee. The Chairman of Russia's LUKoil, Vagit Alekperov, has signed an amendment to the contract to develop the West Qurna-2 oil field with the South Oil Company (SOC). According to the amendment, the 18.75 percent share of the project formerly owned by the Norwegian company Statoil is to be taken over by LUKoil, […]
Russia’s LUKoil has said it has cut its oil production plan in Iraq by almost a third, in line with the local government’s plans to increase the lifetime of its oilfields, reports Al Arabiya. Andrei Kuzyayev, head of LUKoil Overseas, told Russian state TV channel Rossiya-24 that LUKoil is now looking for peak production at […]
By John Lee. Reuters reports that top oil trader Vitol has apologised to the Iraqi government for buying Kurdish oil that was exported via Turkey without Baghdad's permission. Iraqi Oil Minister Abdul-Kareem Luaibi [Elaibi] said on in Vienna: "In terms of Vitol, they have cancelled the Kurdish amount and they apologised officially ... As for […]
By John Lee. Reuters reports that LUKoil, Russian’s biggest non-state oil producer, which is believed to be considering buying ExxonMobil's stake in the West Qurna-1 oil field, has bought oil from Kurdistan in defiance of Baghdad. Baghdad has long insisted it has the sole right to export oil, but LUKoil's Geneva-based trading arm Litasco has […]
WorleyParsons has been awarded a three year contract by LukOil Mid-East Limited to provide project management services for West Qurna-2 oil field development project in Iraq. WorleyParsons will provide project management, technical and construction supervision personnel to support the West Qurna-2 engineering, procurement and construction (EPC) activities. WorleyParsons will also develop a Project Management System […]
By John Lee. Russian’s LUKoil is said to be studying documents on Iraq’s West Qurna-1 oil field, with a view to possibly taking over ExxonMobil's stake. Bloomberg quotes Chief Executive Officer Vagit Alekperov (pictured) as saying that the company will make a decision on possible participation in the project by the end of the year. […]
By John Lee. Exxon Mobil has informed the Iraqi government that it wants to pull out of the $50-billion West Qurna-1 oilfield project, according to a report from Reuters. Abdul Mahdi Al Ameedi, director of the oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD), said: "Exxon has stated in its letter that it has started discussions […]
Iraq has signed a deal with Russia's LUKoil, and Inpex Corp of Japan, to explore the 5,500-square-kilometer (2,100 square mile) Block 10 in Muthanna and Dhi Qar province. Under the contract, the two firms must invest at least $100 million and will be paid $5.99 for each barrel of oil equivalent it finds. "This contract represents […]
Russia's LUKoil said on Tuesday that Iraq has not asked it to replace Exxon Mobil at the West Qurna-1 oilfield. Nefte Compass said last week that Iraq was considering replacing Exxon with either Russia's LUKoil and Gazprom Neft, but LUKoil Vice President Leonid Fedun (pictured) told Reuters: "No one has offered us West Qurna-1 ... […]
By John Lee. Iraq is considering replacing ExxonMobil at the supergiant West Qurna-1 oilfield with Russian companies LUKoil and Gazprom Neft, according to a report from Nefte Compass. Iraq regards Exxon's contracts in the northern Kurdish region of the country as illegal. But if any agreement was reached at this week's meeting between Iraqi Prime […]
