PARNAS leader attacked during march in Nemtsov’s memorySociety & Culture February 26, 16:59
Donetsk water purification station recaptured from Ukrainian radicalsWorld February 26, 15:24
Russian skiers Ustyugov, Kryukov win team sprint at World ChampionshipsSport February 26, 15:23
Opposition activist Dadin sentenced for disorders at rallies leaves jailRussian Politics & Diplomacy February 26, 12:58
Aerospace Force chief says Russian army to get new combat jets and helicoptersMilitary & Defense February 26, 11:15
Mistura says Homs terror attacks attempt to derail Geneva talksWorld February 26, 5:49
Where to watch unique solar eclipse and spectacular ‘ring of fire’Science & Space February 26, 3:24
HNC expects Trump to correct Obama's mistakes in Syria - delegation headWorld February 26, 3:08
War on terror to dominate Geneva talks — Syrian UN envoyWorld February 25, 23:48
MOSCOW, September 16. /TASS/. Lukoil repaid in full all the funds invested in the mining project West Qurna - 2 in Iraq, Head of the company Vagit Alekperov said on Friday in an interview with Kommersant.
"Yes, we have repaid it. But in order to start the second stage, we should not only cover the historical costs, but also somehow make money," he said.
The total project costs as of June 30, 2016, were estimated at $7.23 bln.
According to Alekperov, Lukoil is currently actively discussing the second stage of the project, according to his estimations the investment totals another $7 bln.
On December 12, 2009, a consortium of LUKOIL and Norway's Statoil won a tender for the development of the West Qurna-2 field in Iraq. Its estimated recoverable oil reserves total approximately 13 billion barrels, which will be produced from two major formations - Mishrif and Yamama. West Qurna-2 is one of the largest oil fields in the world.
West Qurna-2 is located in southern Iraq, 65 km Northwest of the major port city of Basra. The field was discovered in 1973 and explored (using 2D seismic acquisition and exploration drilling technologies) by Soviet geologists in 1970s and 80s. The size of the current Contract Area is over 300 square km.