14 Mar 2012 16:30

Lukoil to invest $33 bln in West Qurna, $18 bln in Caspian in 10 years - Alekperov

LONDON. March 14 (Interfax) - Lukoil will invest $3 billion in the West Qurna-2 project in Iraq in the next ten years, the Russia oil major's president, Vagit Alekperov, said in London during presentation of the company's new ten-year strategy.

This will be the company's main investment target in the next two years, after which a services contract will enter into effect, Alekperov said.

He also said Lukoil would invest $18 billion in its Caspian projects in the next ten years and boost hydrocarbons output there 12-fold.