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Lukoil plans to double its investments in Iraq
SUNDAY, JUNE 30, 2013 22:19
Twilight News / Iraqi government said Sunday that the Russian company Lukoil plans to double its investments in the field of extraction and petrochemical industries in Iraq.
And the evolution of Lukoil West Qurna 2 field in the province of Basra in southern Iraq and expects to begin commercial production of oil early 2014 so a little late for the previous deadline late 2013.
Earlier this year, the company said it would invest four billion dollars in the West Qurna-2, one of the giant fields in Iraq and the world, with reserves estimated at 12.9 billion barrels.
The government said in a statement received "Twilight News" Prime Minister Nuri al-Maliki search, during a meeting at his residence in Moscow, with the head of the Russian company Lukoil, ways to boost oil investments in the country.
Looking Maliki in Moscow, where he arrived on cooperation in the military and economic spheres.
Maliki said that Iraq is seeking to increase its oil production and expand its industries and the establishment of oil refineries and encourage companies to increase their investments in these areas,
He said that the Oil Company of reliable companies that are respected by the Iraqi government and the Oil Ministry, hello efforts by the company to expand its investments in Iraq.
The share of Lukoil in the West Qurna-2 to 75 percent, after the withdrawal of its Norwegian partner. The two companies won the contract to develop the field in 2009.
The company agreed earlier this year with the Iraqi Oil Ministry to modify the terms of investment of the West Qurna field (2), by reducing the production ceiling in the field, from 1.8 million to 1.2 million barrels per day.
It was also also agreed to increase the duration of peak production to 19.5 years instead of 13 years, as well as to extend the duration of the contract from 20 to 25 years old.
The Iraqi government said in a statement that the President of the Russian company said it plans to double its investments in the field of extraction and petro-chemical industries.
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SUNDAY, JUNE 30, 2013 22:19
Twilight News / Iraqi government said Sunday that the Russian company Lukoil plans to double its investments in the field of extraction and petrochemical industries in Iraq.
And the evolution of Lukoil West Qurna 2 field in the province of Basra in southern Iraq and expects to begin commercial production of oil early 2014 so a little late for the previous deadline late 2013.
Earlier this year, the company said it would invest four billion dollars in the West Qurna-2, one of the giant fields in Iraq and the world, with reserves estimated at 12.9 billion barrels.
The government said in a statement received "Twilight News" Prime Minister Nuri al-Maliki search, during a meeting at his residence in Moscow, with the head of the Russian company Lukoil, ways to boost oil investments in the country.
Looking Maliki in Moscow, where he arrived on cooperation in the military and economic spheres.
Maliki said that Iraq is seeking to increase its oil production and expand its industries and the establishment of oil refineries and encourage companies to increase their investments in these areas,
He said that the Oil Company of reliable companies that are respected by the Iraqi government and the Oil Ministry, hello efforts by the company to expand its investments in Iraq.
The share of Lukoil in the West Qurna-2 to 75 percent, after the withdrawal of its Norwegian partner. The two companies won the contract to develop the field in 2009.
The company agreed earlier this year with the Iraqi Oil Ministry to modify the terms of investment of the West Qurna field (2), by reducing the production ceiling in the field, from 1.8 million to 1.2 million barrels per day.
It was also also agreed to increase the duration of peak production to 19.5 years instead of 13 years, as well as to extend the duration of the contract from 20 to 25 years old.
The Iraqi government said in a statement that the President of the Russian company said it plans to double its investments in the field of extraction and petro-chemical industries.
[You must be registered and logged in to see this link.]
