Thursday, October 23, 2014


Iraq

LUKoil Begins Pumping From Major Oil Field Near Basra

Iraqi Oil Minister Abdelkarim al-Luaybi (center) sits between LUKoil Mideast's chief, Iskander Nasyrov (left), and Samsung Vice President Park Ki-Seok (right) as they sign a $1 billion deal to develop Iraq's second-biggest oil field in Al-Basrah in March.
Iraqi Oil Minister Abdelkarim al-Luaybi (center) sits between LUKoil Mideast's chief, Iskander Nasyrov (left), and Samsung Vice President Park Ki-Seok (right) as they sign a $1 billion deal to develop Iraq's second-biggest oil field in Al-Basrah in March.
Russia's second-largest oil producer, LUKoil, says it has begun pumping crude from an oil field in Iraq that is considered one of the region's most ambitious energy projects.

Senior officials from LUKoil and its partners in the project -- the Iraqi government, the U.S. firm Baker Hughes, and South Korea's Samsung -- attended a ceremony on April 25 marking the start of commercial oil production at the Qurna-2 field near the port city of Al-Basrah.

With an estimated 14 billion barrels of untapped reserves, the Qurna-2 is thought to be the world's second-largest undeveloped oil field.

LUKoil says it plans to invest $25 billion to bring the field to full production.

Based on reporting by dpa and Dow Jones
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by: Jack from: US
April 25, 2012 22:04
US government got 5,000 US servicemen killed and countless more mutilated in Iraq as US president loudly proclaimed "mission accomplished". Now Russians are going to pump oil from Iraq. That is really cool. Congratulations to US government and NATO minions.

by: Konstantin from: Los Angeles
April 25, 2012 23:51
The Russian-British-Austrian-German plan in action.
USA and last few nations, not yet being colonized,
Like Georgia or Ukraine, are being sucktioned.
By pact of 1954-56 - to resurect empires.

USA Russian-Germans-Austrian lobbies
Made USA do stupid things - their betting.
Beyound end Cohen-Shvartckov hobbies,
They going too far, colonize USA assets,
Prevent US help to free nations defences.

by: Eugenio from: Vienna
April 26, 2012 06:35
Vladimir Putin and his friends have to appreciate the favours of George W and Dick Cheney :-).

by: Konstantin from: Los Angeles
April 26, 2012 07:27
PS:
If one would consider that a return to former USSR of debth,
By Iraq oil revenues and repay the former USSR lend-lease,
Than one must estimate debth of Russia too the CIS space,
Return their shears in the would be "Siberia's United States"
- Not use it strangulate neighbors as an "Empire" of squeeze.

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