02 Nov, 23

Russia’s Lukoil To Double Oil Output At Iraqi Field West Qurna 2 To 800,000 Bpd

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Lukoil has extended its development and production contract for Iraq’s West Qurna 2 oilfield, aiming to gradually double oil output to 800,000 barrels per day (bpd), the Russian oil company said on Thursday.   Lukoil signed the agreements with representatives of Iraq’s Basra Oil Company in Baghdad. The deal extends the service contract with 10 years to 2045 and provides for better conditions, the Russian oil giant said. The agreement also entails investments into further development of the project, and “gradual…

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