B&B major oil company reached an initial agreement with Baghdad to revive the old giant oil field, which has witnessed a significant deterioration in its production.

Lukoil is already developing the giant West Qurna oil field -2 in southern Iraq, which is expected to start production by the end of the year.

“The Russian government sent a letter to Iraqi Prime Minister says that Lukoil is interested in the Kirkuk field,” The source said in a statement briefed by “Shafaq News”.

The source did not mention any other details.

Lukoil Company’s spokesman refused to comment.

The company is seeking to expand its activities in the oil industry abroad and in Russia in order to stop the decline in domestic oil production, which continued during the past three years.