IRAQ
Lukoil Clinches New W Qurna-2 Mega-Project Deal
Russia’s Lukoil on 17 January became the first foreign oil investor in Iraq to sign a renegotiated production plateau target agreement with Iraq’s oil ministry. Instead of the originally contracted production plateau target of 1.8mn b/d for its giant West Qurna-2 development, Lukoil will now produce, as expected, at a lower peak of 1.2mn b/d. But the contractual plateau duration has been...
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