Lukoil to decide possible involvement in West Qurna-1 project this year

11/29/2012

Lukoil to decide possible involvement in West Qurna-1 project this year

BY OLGA RAZUMOVSKAYA
 
MOSCOW -- Lukoil Holdings will decide on whether to get involved in the West Qurna-1 project in southern Iraq by the end of the year, the head of the company Vagit Alekperov said. According to the report, he pointed out that no economic calculations have been made; right now, only the synergy effect from the possible work of West Qurna-2 and West Qurna-1 is being discussed.

Exxon Mobil , which operates West Qurna-1, has asked permission from Iraq's state oil company to share data about the project with BP, Eni, Lukoil and a number of other companies, with the aim of selling part of its stake in the project. Lukoil owns a 75% stake in the West Qurna-2 oilfield project.

Dow Jones Newswires

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