Lukoil in Iraq - a good mine for a bad game

Oil Resursy07-07-2008 Lukoil in Iraq - a good mine for a bad game LUKoil announced its readiness to produce up to 600,000 barrels of oil per day from the Iraqi field, "West Qurna-2. About this with complete certainty, said CEO Alekperov. He noted that Lukoil had all the researching and preparation work and is ready to implement this contract. Only an initial investment, which our oil going to run the project, estimated at $ 4 billion should be reminded that the agreement with the Iraqi side have been concluded by another in 1997 for a period up to 2020 Contract "West Qurna-2 was the first and the largest signed by the Russian companies in Iraq after the 1991 war. Reference: West Qurna-2, located 100 km north-west of Basra. Cumulative production for the duration of the contract could reach 4.8 billion barrels of oil and 56.4 billion cubic meters of gas. Planned capital investments in the development of the field is about $ 4 billion