Lukoil discusses transportation with ports company

BASRA / IraqiNews.com: A delegation comprised of representatives of Russia’s Lukoil and Norway’s Statoil has discussed with the Iraqi Ports Company mechanisms to facilitate their transportation work as part of plans to develop West al-Qarna-2 oilfield. The meeting took place today at the headquarters of the ports company, the assistant director of the ports company, Eng. Aziz Jassem, told IraqiNews.com news agency. A technical team from the company will offer all facilities to the Russian and Norwegian firms, he added. The companies, which won a contract to develop West al-Qarna-2 oilfield, had pledged to increase production to a peak of 1.8 million barrels per day (bpd) at a rate of $1.15 for each additional barrel of oil produced. Qarna-2 has a huge reserve estimated to reach 13 billion barrels. The field lies in southern Iraq, west of the Majnoon oilfield, whose reserves are equal to Qarna-2. The Shiite city of Basra lies 590 km south of the Iraqi capital Baghdad. SS (P) 1