Lukoil, Statoil Ask Iraq to Adhere to West Qurna-2 Project Schedule

Lukoil (Russia) and Statoil (Norway), which are both participating in the West Qurna-2 project in Iraq, have asked the Iraqi Oil Ministry to adhere to the schedule for the project which has been drafted already, Lukoil Vice President Ravil Maganov said, according to PRAIM.

Maganov said that delays could arise in a number of areas in the project if the Iraqi side does not meet its time lines as stipulated in the schedule written in the project's contract.

The Lukoil-Statoil consortium won a tender in December 2009 to develop the large West Qurna-2 field which has recoverable reserves of about 12.9 billion barrels of oil. The two companies now have a project office in Iraq and have drafted the first stage of work for 2011-2013.

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