Iraq: Lukoil to Earn $2B from Iraq Oil Field

Aug 2, 2014 | Eduard Gismatullin, The Daily Star
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LONDON: OAO Lukoil, Russia’s second-largest oil producer, expects to earn at least $2 billion from exporting Iraqi crude in 2014, 17 years after first winning the West Qurna-2 field.

The firm expects to ship at least 28 million barrels of crude and recover more than half of its $4 billion investment in the field this year, Lukoil Overseas Holding Ltd. President Andrey Kuzyaev said. West Qurna-2, the Moscow-based firm’s largest deposit, holds enough oil to supply the world for more than five months.