Lukoil declines West Qurna 1 stake

摘要

Russian private-sector oil firm Lukoil has decided against developing Iraq’s 430,000 b/d West Qurna 1 in place of ExxonMobil, which is selling its 60pc stake in the field. This opens the way for China’s state-owned CNPC to take over West Qurna 1, where ExxonMobil and its minority partner Shell have pledged to boost output to just over 2.8mn b/d by 2017. Lukoil is already developing West Qurna 2 on its own, which prompted it to avoid the addi- tional risk of becoming involved in West Qurna 1.