28 Nov 2017 13:31

Alekperov to discuss amendments to West Qurna-2 contract with Iraqi Oil Ministry on Nov 29 in Vienna

VOLGOGRAD. Nov 28 (Interfax) - Lukoil President Vagit Alekperov is planning to discuss amendments to the West Qurna-2 contract with the Iraqi Oil Ministry on November 29 in Vienna.

"We have submitted our proposals for consideration by the Iraqi Oil Ministry. We signed a protocol stipulating the key principles of the upcoming project in addition to our contract. This is already the third addition to the contract," Alekperov told journalists.

"I will meet with the leadership of the [Iraqi Oil] Ministry tomorrow at OPEC [in Vienna]. Fast-moving talks are in progress, enabling us to arrive at a mutual understanding for amendments to our contract in the near future," he said.

"The agreement needs to be amended in any case as plateau production of 1.2 million barrels per day has been lowered to 800,000 bpd," the Lukoil chief said.