MOSCOW — Russia has signed major contracts in Iraq.
Russia’s LukOil Mid-East has signed contracts for Iraq’s giant West Qurna-2 project, meant to begin production by 2014. Executives said LukOil intended to produce 500,000 barrels of oil in the initial stage over the next year.
Lukoil Overseas Holding president Andrey Kuzyaev said West Qurna would significantly bolster the company’s assets outside Russia. Kuzyaev said Iraq was one of three major markets for LukOil, which already produces 220,000 barrels per day abroad.
West Qurna has been deemed the world’s largest undeveloped oil field, with 13 billion barrels of crude oil. LukOil has signed contracts with such companies as South Korea’s Samsung Engineering, Turkey’s Enka Insaat and France’s Entrepose for infrastructure at West Qurna
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http://www.worldnewstribune.com/2012/03/23/russias-lukoil-gets-iraq-contract-on-worlds-largest-undeveloped-oil-field/
MOSCOW — Russia has signed major contracts in Iraq.
Russia’s LukOil Mid-East has signed contracts for Iraq’s giant West
Qurna-2 project, meant to begin production by 2014. Executives said LukOil
intended to produce 500,000 barrels of oil in the initial stage over the
next year.
Lukoil Overseas Holding president Andrey Kuzyaev said West Qurna would
significantly bolster the company’s assets outside Russia. Kuzyaev said Iraq
was one of three major markets for LukOil, which already produces 220,000
barrels per day abroad.
West Qurna has been deemed the world’s largest undeveloped oil field,
with 13 billion barrels of crude oil. LukOil has signed contracts with such
companies as South Korea’s Samsung Engineering, Turkey’s Enka Insaat and
France’s Entrepose for infrastructure at West Qurna
http://911mysteerit.fi/