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Despite the difficult situation in Iraq, LUKOIL succeeded in providing serious support to the country’s Ministry of Oil by supplying special machinery to the Iraqi oilmen and hosting hundreds of Iraqi specialists for traineeship in Russia. West Qurna-2 In December 2009 a consortium of LUKOIL and Norway’s Statoil became the successful bidder in the tender for the right to develop the West Qurna-2 field.
A development and production service contract for this field was signed in Baghdad on January 31, 2010, and ratified by the Republic of Iraq Cabinet of Ministers. Drilling on West Qurna-2 will start in 2011, and the first production is expected at the end of 2012. The target production level of over 90 million tons of oil per year is expected to be achieved in 2017. Share of LUKOIL Overseas | 56.25% | Proven reserves (100%) | About 13 billion boe | Project partners | SO? and NOC 25%,
Statoil ASA 18.75% | Operator | LUKOIL |
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Business Geography
