Lukoil Optimistic on New Iraqi West Qurna Deal Date: Thursday, May 31 @ 01:16:50 PDT Topic: Business News; Market Research
Russian oil producer OAO Lukoil Holdings (LKOH.RS) said Wednesday it is optimistic about its chances of getting back into Iraq to develop the big West Qurna oil field, an executive said Wednesday.
The company lost control of the field, one of Iraq's biggest existing oil fields, in 2002 after it failed to develop West Qurna according to its original $3 billion contract signed in 1997. Saddam Hussein voided the contract in 2002.
