Lukoil OAO and other Russian companies will compete 'on equal terms' for Iraqi government contracts to develop the nation's vast oil fields, Iraqi oil minister Hussain al-Shahristani told RIA-Novosti, the Moscow Times reported.
'There will be no privileges for any country or any company,' Shahristani said. 'Lukoil will be competing with other firms on equal terms in accordance with the new oil laws.'
Officials from Lukoil, Zarubeshneft and Mashinoimport are expected to meet with al-Shahristani today in Moscow, the newspaper said.
The three companies may hope to revise an earlier 4 bln usd deal signed with Saddam Hussein's government to develop the 600,000 barrel per day West Qurna field.
Hussein cancelled this contract shortly before the US invaded in 2003.
The newspaper added that Lukoil may have a chance to revive the deal because ConocoPhillips (nyse: COP - news - people ) holds a 20 pct stake in the Russian oil major.
source:www.forbes.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment