Two Russian oil majors eye several projects in Iraq

MOSCOW, April 24 (Itar-Tass) - Russian oil major LUKOIL eyes possible participation in a tender on integrated project Nasiria in partnership with Russian state-run oil company Zarubezhneft, LUKOIL said in a statement on Thursday. The integrated project envisages development of the oil field and construction of an oil refinery. A next round of talks on the project with the Iraqi government is expected this summer, LUKOIL CEO Vagit Alekperov stated earlier. In March 2013 LUKOIL and Zarubezhneft have passed a qualification selection on Nasiria project. Seven companies were selected for the tender, including two Russian companies. Meanwhile, LUKOIL and Zarubezhneft mull possible geological prospecting at Iraqi oil block Western Euphrates. “A memorandum on mutual understanding with the Iraqi state-run oil exploration company over possible geological prospecting at oil block Western Euphrates on an area of 17 thousand square kilometres was signed in the Iraqi capital of Baghdad. The oil block is being surveyed now, after that a decision on drafting a contract will be taken. Zarubezhneft acts as LUKOIL’s partner from Russia,” LUKOIL stated. Learn more on itar-tass.com