News // Politics
Iraq and Lukoil are looking to accelerate oil production in the 10th exploration area
05 March 2018 , 10:25Neftegaz.RU749
Iraqi Prime Minister Haider al-Abadi on March 4, 2018, discussed with Lukoil CEO Vagit Alekperov the acceleration of oil production for the 10th exploration project between Dhi Qar and Muthanna, including West Qurna 2 in the Basra province.
Iraq announced in a press statement that «the Prime Minister received at his office on Sunday the President of Lukoil Mr. Vagit Alekperov and his accompanying delegation ».
«The meeting discussed the projects implemented by the company in Iraq and the work of West Qurna 2 oil field in the province of Basra through increasing production and investment of gas and create new job opportunities for citizens, in addition to accelerating the production process for the 10th exploration project between the provinces of Dhi Qar and Muthanna», al-Abadi said.
Lukoil has invested a great deal of effort to provide better living standards for local residents in the areas of its operations in Iraq. In the past few years, Lukoil created thousands of jobs, and hundreds of personnel received training at the training center for the Iraqis employed at West Qurna-2.
The West Qurna-2 field is located in the south of Iraq and operated by Russia’s Lukoil with a 75% stake. The remaining 25% is held by the state-owned North Oil Company. It is one the world’s biggest oil fields, holding around 13 billion barrels of recoverable reserves.
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