2 Nov 2023 11:07

Lukoil signs additional agreement on West Qurna-2 project in Iraq that envisages improved terms and conditions

MOSCOW. Nov 2 (Interfax) - Lukoil has signed an additional agreement with the Basra oil company regarding the contract to develop and produce oil at the West Qurna-2 field in Iraq, the Russian oil company said in a statement.

The additional agreement envisages improved terms and conditions and a 10-year extension of the service contract until 2045; investments for further project development; and gradual doubling of the field's capacity to reach a production plateau of 800,000 barrels of oil per day.