Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all Oil Company "LUKOIL" press releases

Oil Company "LUKOIL"

December 9, 2013

LUKOIL President pursues negotiations in Baghdad

Vagit Alekperov, OAO LUKOIL President, met with the leaders of Iraq’s Fuel and Energy Complex -- Deputy Prime Minister for Oil Hussain al-Shahristani and Minister of Oil Abdul Karim Luaibi, in Baghdad today.
The parties discussed the progress of the West Qurna-2 field-development project, the Block-10 geologic-exploration project and other promising Iraqi projects in which LUKOIL may be involved.
Construction is soon to be completed of the field’s main production facilities: an oil-treatment unit, a gas-turbine power plant, an export pipeline and a tank battery. Twenty-three directional wells have been drilled this year, whereas the infrastructure development of cluster pads and the pre-commissioning and startup operations are still underway.
West Qurna-2 field, located 65 kilometers to the northwest of Basra, a major seaport, is one of the world’s largest undeveloped fields with recoverable oil reserves of approximately 14 billion barrels. As previously reported, a supplement agreement to the contract was signed at the beginning of 2013. It states, among other things, the target production level with respect to the project: 1.2 million barrels of oil per day for a period of 19.5 years and extension of the total contract term to 25 years.
The contract on Block-10, located 120 kilometers to the west of Basra, was signed in November of 2012. The operations at the block are being conducted by a consortium formed by LUKOIL Overseas (60%) and Japan’s INPEX Corporation (40%). Demining operations are now being conducted in the contract area.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer