Lukoil, Russia's second-largest crude oil producer, has confirmed that it will be able to develop Iraq's West Qurna-2 oilfield without partners. "Today we are able to implement this project by ourselves," president Vagit Alekperov told reporters in the Spanish city of Barcelona on Friday. Reuters reports that production from the field will reach 150,000 barrels […]
Russia's Deputy Prime Minister, Dmitry Rogozin, said on Tuesday that both Libya and Iraq continue to show interest in buying Russian-made weaponry despite regime changes in these countries. According to RIA, the minister, who oversees the Russian defense industry, told reporters in Moscow: “The Libyan military leadership and the Iraqi government have shown serious interest […]
Bloomberg reports that Lukoil, Russia’s biggest non- state oil producer, will sign an agreement with Samsung this week for the development of the West Qurna-2 oilfield. Samsung will install “a crude-gathering facility and a central processing plant for West Qurna-2,” the Iraqi Oil Ministry said on Tuesday. The deal is expected to be signed on 22nd […]
Lukoil plans to boost investment at its West Qurna-2 oil field in Iraq to about $2 billion this year. Russia’s largest non- state company plans to carry out drilling and begin construction of a pipeline as it prepares the field for the start of production. The company invested more than $200 million in the project […]
Platts reports that the Iraqi oil minister, Abdul Karim Luaibi [Elaibi], has approved the sale of Statoil's 18.75% stake in the giant West Qurna-2 oil field to the project operator, Russia's Lukoil. Meanwhile, Reuters reports that the Norwegian oil giant has confirmed that it is in talks to sell its stake to Lukoil. "Both Lukoil and […]
Russian President Dmitry Medvedev (pictured) announced on Thursday that Russia would continue helping Iraq to become a democratic, independent country and to preserve its territorial integrity, something that meets the Iraqi people’s interests and is in line with regional stability and security. In a letter delivered to Iraqi Prime Minister, he also signaled Russia's readiness […]
Russia’s LUKoil is set to become the only foreign operator of the West Qurna-2 oil project in Iraq after its partner, the Norwegian company Statoil, asked Iraq's oil ministry for permission to sell its stake, according to The Voice of Russia. The Iraqi Oil Ministry has reportedly approved the deal, which would give LUKoil a […]
OAO Gazprom Neft started drilling a second appraisal well at the Badra oilfield, according to a report from Bloomberg. The Russian producer, which started drilling the first such well at Badra in November, expects to complete the second well in spring, and plans to approve the field development plant in February 2013. (Source: Bloomberg)
Russia’s Interfax news agency reports that OAO Bashneft is in talks to form a consortium to develop Iraqi oil fields. The company, controlled by billionaire Vladimir Evtushenkov’s AFK Sistema, reportedly wants to be a junior partner in a consortium that will bid in the next round of tenders for Iraqi oil fields. (Source: Bloomberg)
The Russian news agency RT produced this report on corruption in the US military in Iraq: (Source: RT)
Lukoil is interested in seeking exploration licenses in Iraq, according to a report from Bloomberg. The company's Chief Executive Officer, Vagit Alekperov, met Iraq's Oil Minister, Abdul Kareem al-Luaibi [Elaibi], in Moscow on Wednesday. Alekperov and al-Luaibi also discussed the West Qurna-2 project, and development of infrastructure to ship oil from the field. (Source: Bloomberg)
Two new sub-contracts have been granted for two local companies to participate in developing the Badra oil field in southern Iraq’s Wassit Province, Aswat al-Iraq reports on Thursday. “The Russian Gasbromneft Company [Gazprom Neft], which won the contract to develop [the] Badra oil field, 90 km to the east of Kut ... has decided to […]
