Thursday, 26 June 2014

LUKoil to Invest $30 Billion in Iraq | News | The Moscow Times

LUKoil to Invest $30 Billion in Iraq | News | The Moscow Times:



"Russia's No.2 crude oil producer LUKoil expects oil production to peak at Iraq's giant West Qurna-2 oilfield in 2019 at 1.25 million barrels per day, a company official said in a presentation Thursday.



Ravil Maganov, who oversees LUKoil's exploration and production, also said total investment in the field, located in the south of Iraq, was expected to exceed $30 billion.



LUKoil started production at the field in March."



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