LUKOIL has been looking at opportunities of expanding our business in Iraq since late 1990’s, when an agreement had been reached with the then government of Iraq to develop the West Qurna field. As a result of sanctions and conflict in the region our wish to work in Iraq was realized in 2009, when we won the tender for the West Qurna 2 development project. The West Qurna-2 project achieved first oil production in March 2014. By now West Qurna-2 has added the largest incremental production growth of 480,000 bpd. in Iraq among all fields that were put onstream since 2009.
Iraq plays a central role in a Company’s strategy of increasing oil production abroad. In 2010 LUKOIL became an operator of one the world’s largest oilfields – West Qurna-2.