Lukoil emphasize its commitment to increase oil production in Iraq fields

This came during a meeting with the Iraqi minister of oil , Adel Abdul Mahdi in Baghdad, where Alekperov arrived today to discuss with Iraqi officials his country's investments.

Abdul-Mahdi confirmed according to a statement of the Ministry of Oil received by “Shafaq News" the ministry's keenness to create a safe environment for attracting investments for the oil sector interest and elevate the interests of the oil industry in the country.

The Minister of Oil, praised the role of Russia's LUKOIL in the development and increase of production at the West Qurna / 2 field and Iraq's desire to increase the volume of cooperation with the company to include other new projects.

Abdul-Mahdi said that the ministry is making great efforts to overcome the difficulties that may impede the work of foreign companies operating in Iraq.

For his part, Alekperov confirmed Lukoil keeness to increase the volume of cooperation and investments in oil and gas exploration and petrochemical industries sector.

He denied the statements attributed to him and said that contracts with Iraq under the licensing rounds allow them to stay for many years.

He added that his company is committed to the development plans and the increase in production in the oil fields, including West Qurna / 2 field, which has achieved a significant increase in production in a record period.

The statements attributed to Alekperov has recently reported that the company will ask for more oil from Iraq its work in West Qurna 2 project otherwise they may cut their investments.

West Qurna 2 produces more than 320 thousand barrels per day. It is expected that the production of the field reach up to 1.2 million barrels per day.