Russia's Lukoil Wins Iraqi Contract to Develop Major Oil Field

The Iraqi government has awarded a contract to Russian energy company Lukoil and its Norwegian partner to develop a major oil field in southern Iraq.

Iraq signed the deal Sunday with Russia’s Lukoil and Statoil of Norway for expansion of the West Qurna Phase 2 oil field, one of the country’s largest. The site has known reserves of around 13 billion barrels of oil.
Iraq has awarded a series of contracts to foreign energy companies in recent weeks to develop Iraqi oil deposits. The deals are aimed at dramatically boosting Iraq’s oil production to 12 million barrels a day in the coming years.

Voice of America