RABAT, February 23. /TASS/. Iraqi authorities have transferred management of the West Qurna-2 oil field, in which Russia’s Lukoil previously held an operating stake, to the US company Chevron, the INA news agency reported.

Iraq signed two preliminary agreements between local oil companies and Chevron, the agency said. The first agreement was concluded between Iraq’s Basra Oil Company and Chevron on transferring management of the West Qurna-2 oil field to the US company. The signing ceremony was held in the presence of Iraqi Prime Minister Mohammed Shia al-Sudani.

On February 17, the Iraqi government approved an agreement reached with Russia’s Lukoil to transfer oil production operations at the West Qurna-2 field to the local Basra Oil Company. According to a statement by the Iraqi prime minister’s press service, "regarding the management of oil fields, the cabinet approved an amicable settlement with Lukoil on the transfer of oil production operations at the West Qurna-2 field to Basra Oil Company.".