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Lukoil and Shell In Talks to Partner on Petrochemical Complex in Iraq

West Qurna-2 was discovered in 1973 using 2D seismic acquisition drilling techniques by Soviet geologists and is over 300 square meters.

Lukoil’s president, Vagit Alekperov recently announced the Russian oil company is in talks with Shell to participate in the development of of a petrochemical complex in Iraq. Lukoil’s management has decided to aid costs by using funds from the oil produced at their oil fields in Iraq at their West Qurna-2 field, the largest field in Iraq. 

Mr. Alekperov announced: “Yes, today we are in talks on making adjustments to our service contract and to bring the gas component outside, on the basis of the gas more unique factor West Qurna-2. 17% of this gas is unique gas and would be a crime to burn it. To create a petrochemical complex - now the negotiations are under way with Shell and with Total. The Iraqi side supports our efforts.”

West Qurna-2 was discovered in 1973 using 2D seismic acquisition drilling techniques by Soviet geologists and is over 300 square meters. 
Currently, Iraqi-Government owned South Oil Company and oil operators such as Lukoilm which holds 75% and the Iraqi North Oil Company which owns 25%

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