'Asian players in frame' for West Qurna 2

MOSCOW, RUSSIA - JUNE 28: LUKOIL Deputy Chief Executive Leonid Fedun speaks at a press conference on June 28, 2007 in Moscow, Russia. Russia's No. 2 oil producer OAO Lukoil announced today that its net profits in the first three months of the year fell 23 percent due to a dip in global oil prices and higher taxes. (Photo by Dima Korotayev/Epsilon/Getty Images) *** Local Caption *** Leonid Fedun

'Talks': Lukoil vice president Leonid Fedun

Epsilon

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By Steve Marshall and news reports

 29 May 2012 12:26 GMT

Russian giant Lukoil is reported to be in talks with several bidders for a stake in the West Qurna 2 project in Iraq as Norway’s Statoil heads for the exit.

“We are holding talks with several potential bidders, including Asian firms. I believe we may get positive news by the end of this year,” Lukoil vice president Leonid Fedun said at a company presentation for investors in Hong Kong, according to Russian news wire RiaNovosti.

Statoil is set to complete the transfer of its 18.75% stake in the project to operator Lukoil by the end of this month, which would leave the Russian company on 75% with state-owned North Oil Company holding the remaining 25%.

Lukoil chief executive Vagit Alekperov has previously stated…

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