Russian outfits eager to pump Iraqi oil
Gazprom Neft, Tatneft and Lukoil want to take part in Iraqi oil and gas tenders, senior executives of the three Russian companies were quoted as saying on Saturday during a Moscow visit by Iraq's prime minister.
Tatneft deputy general director Khamit Kaveev said his company wanted to renew talks on blocks 8 and 9 in Iraq's western desert after initially signing a memorandum of understanding in 2003, news agency RIA Novostei reported.
Gazprom's oil unit Gazprom Neft also intends to participate in tenders for six oil fields and two gas fields, Interfax reported, citing remarks by Alexander Kolomatsev, the head of the unit's Middle Eastern projects.
Energy has been a major topic in the visit by Iraqi Prime Minister Nuri al-Maliki to Moscow, which included discussions with Prime Minister Vladimir Putin on Friday.
Russia's energy minister said after their meeting that the two countries had agreed to work on restoring oil contracts that they concluded before the US-led invasion of Iraq in 2003.
A Russian consortium including oil group Lukoil signed a $3.7 billion deal to develop Iraq's West Qurna oilfield in 1996 but Saddam's government tore up the deal in 2002.
Lukoil has since lobbied for the current Iraqi government to honour Saddam-era contracts.
While Iraq previously said Lukoil would have to compete with other companies for the contract, Baghdad has now renegotiated and signed another Saddam-era deal, with the Chinese National Petroleum Company.
Vagit Alekperov, chief executive of Lukoil, said in a round table discussion that his company was ready to adapt the 1996 contract to develop West Qurna.
"The political situation in Iraq is stabilising, Lukoil's office is up and running and we are prepared to work," Itar-Tass reported him as saying.
Iraq sits on the world's third largest proven oil reserves, which are largely underexploited due to decades of war, sanctions and underinvestment, and then by sectarian violence unleashed by the 2003 invasion, reported Reuters.