Lukoil head in Iraq to discuss reviving oil deal

[Joanne98]

Source: Reuters

BAGHDAD (Reuters) - The head of Russia's second-largest oil firm, LUKOIL, will meet Iraq's oil minister on Monday to discuss reviving a multi-billion-dollar deal to develop one of Iraq's largest oilfields.

Lukoil president Vagit Alekperov and Russia's deputy foreign minister, Alexander Sultanov, are in Baghdad to meet Iraq's political leaders to boost foreign investment in the country. Moscow last month wrote off most of Iraq's $12.9 billion debt to Russia.

"The chief of Lukoil will discuss with the Iraqi oil ministry the former oil contracts which have problems, one of which is the contract for West Qurna (oilfield)," Hoshiyar Zebari, Iraq's foreign minister, told reporters.

"This contract, according to the Iraqi government, is cancelled."




Read more: http://www.reuters.com/article/ousiv/idUSL2434258920080324

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