March 23, 2015 8:26
Confirmed Lukoil, Sunday, commitment oil contracts and plans for the development of oil production in Iraq, denying the statements attributed to it to reduce its investments in the West Qurna 2 field project.
A spokesman for the Oil Ministry, Assem Jihad said, "Lukoil confirmed after meeting with Minister of Iraqi oil, Adel Abdul-Mahdi, their commitment to the oil contracts which allow them to stay for many years," denying "statements attributed to them as threatening to reduce its investments in" the West Qurna 2 "field project If you do not increase the size of the compensation of the oil field. "
Jihad said that "the company has confirmed its commitment to the development plans and increase production in the fields of oil, including the Arabs Qurna 2 field", adding that "This field has achieved a significant increase in production and the period of record."
The agency quoted Russia today, March 19, 2015, that Lukoil will ask to increase the size of Iraq's oil compensation from West Qurna 2, "and threatened to" reduce investment in the field, if it is not.
The West Qurna field, and one of the largest oil fields in Iraq, and has been extracting oil from the first time during the year 1973, experts estimate suggests that it contains oil stocks reach 14 billion barrels.
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