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LUKOIL to begin drilling in Iraq

Topic: Iraq (1148 documents)
 
Mar 17, 2010 15:39 Moscow Time
Lukoil. Photo: RIA Novosti
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The Russian Company “LUKOIL” is planning to begin drilling in Iraq having won a tender at the end of December for the development of “Western Kurna-2” oilfield with the Norwegian “Statoil” in the south of Iraq. According to the contract, signed for 20 years, “LUKOIL” has a 56.3 percent stake. Investments in “Western Kurna-2” may total about 30 billion dollars. This year “LUKOIL” is investing 300 million. Earlier reports said the drilling was to begin in 2011 and production – in 2012.

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