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Russia’s Lukoil looks to boost oil production in Iraq

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However, due to the pandemic and the oil price crash, which resulted in new OPEC+ production cuts, Lukoil cut production at the West Qurna-2 oilfield to 280,000 bpd, according to Lukoil’s Zubarev.

“The current situation forces us and our partners to revise our plans to see how they correspond to the needs of the time,” Zubarev told Bloomberg in an email.

Lukoil plans to file proposals to Iraq’s authorities “soon” to develop a separate area in southern Iraq known as Block 10, Zubarev said.

This article was originally published on Oilprice.com

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