Lukoil sticks to the plan of covering the expenditure for Western Qurna-2 in H1 2016
Edited by Rhod Mackenzie / 2016-01-25 06:36:43
Lukoil sticks to its plan of covering the expenditure for the Western Qurna-2 in H1 2016 at the oil price of $30/barrel. The company admits it might happen later, the Vice-President of Lukoil, L. Fedun, said.
We hope in H1, even with such environment, we will close this project (expenditure), maybe a bit later, he said.
Fedun added that in 2016 the extraction fall at this deposit is expected.
The Western Qurna-2 is located in the south of Iraq, 65 km of Basra town. The participants of the project are the Southern oil company of the Ministry of Oil of Iraq and consortium of contractors – Lukoil (75%), Northern Oil Company of Iraq (25%).
