Lukoil ships first batch of compensation oil as part of West Qurna-2 project in Iraq
MOSCOW -- Sea Triumph, a tanker chartered by LITASCO (an international marketing subsidiary of OAO Lukoil), left the port of Basra in southern Iraq with a load of crude. This is the first batch of oil in reimbursement of the costs incurred by Lukoil as part of the West Qurna-2 project.
The shipment is 1 MMbbl. The vessel is bound for Augusta, Sicily. Upon unloading, the oil will be transported for refining to Lukoil’s refinery ISAB in Priolo.
The current daily output at West Qurna-2 field exceeds 280,000 bbl. The project is being implemented on schedule as Lukoil fully meets its production targets and contractual obligations.