Iraq is taking over management of Lukoil’s 480,000 b/d-capacity West Qurna-2 (WQ-2) oilfield in Basra. The pre-emptive move is aimed at minimizing disruption at the key field.
In a 7 January decision, the council of ministers approved the move, tasking state firm Basrah Oil Company (BOC) with handling field management “to the extent allowed by the provisions of the service and development contract” signed with the Russian private firm. (CONTINUED – 1011 WORDS)
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