A crude carrier chartered by LITASCO (LUKOIL's international marketing and trading arm) arrived today (Wednesday) in South Iraq's port of Basra to receive the first batch of oil as part of the recovery of LUKOIL's costs from phase one (“Early Oil”) of the West Qurna-2 project. The vessel will spend several days in the port […]
By John Lee. Lukoil have announced changes to their contract to work on West Qurna-2, following talks with the Iraqi Minister of Oil Abdul Kareem Luaibi. The new alteration expands the scope of the work to include the Tuba-Fao pipeline, as well as speeding up the process of cost recovery for investors. The Tuba-Fao pipeline […]
By John Lee. Writing in Forbes, correspondent Christopher Helman has written an autobiographical study of Lukoil CEO Vagit Alekperov (pictured) and the company's long term ambition in developing the giant West Qurna 2 field in southern Iraq. Helman notes the stunning scale of the endeavor, which has spanned several decades including a deal with Saddam in 1997 […]
