Lukoil-led consortium seals Iraq deal

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Lukoil and Statoil revealed in an official statement that their consortium successfully won the bid to rightfully develop the Qurna Phase 2 field in southern Iraq, the last of the 10 fields Iraq awarded last year during two international licensing rounds.

Statoil said that, based on "thorough analysis and an optimised development plan for the field", Lukoil and Statoil were able to bid a production plateau of 1.8 million barrels a day with a remuneration fee of $1.15/bbl.

The Cabinet of Minister