In 2017, the volume of investments in the oil field West Qurna-2, which is the project of Russian oil giant Lukoil in Iraq, is estimated at $1.5 billion, the head of the company, Vagit Alekperov, told reporters on Monday.
“This year, about $1.5 billion will be invested in the project,” he said, adding that the company has already compensated about $6 billion of historical cost.
Earlier, Alekperov announced that in the first half of 2017 Lukoil expects to negotiate with Iraq changing the terms of the contracts being implemented in the country. Then he emphasized that Lukoil’s proposals on amendment of contracts are mainly aimed at obtaining additional profit.
The field West Qurna-2 is located in the south of Iraq, 65 km from the city of Basra.