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Lukoil targets West Qurna-2



By Upstream staff 

Russian producer Lukoil is set to resurrect a $4 billion contract it signed with Saddam Hussein's regime to develop West Qurna-2, one of Iraq's largest oilfields, according to media reports.

US supermajor ConocoPhillips will benefit from the move as it hass a stake in Lukoil's West Qurna-2 joint venture, a report in UK-based newspaper the Independent on Sunday said.

Iraq's long-awaited hydrocarbon law contains a provision that states that existing contracts to develop oilfields remain valid, the report added.


Monday, 15 January, 2007, 08:21 GMT  | last updated: Monday, 15 January, 2007, 08:21 GMT

Spinning the bit: Lukoil hopes to revive its deal for Iraq's West Qurna-2 oilfield
 

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