Iraq invites Russian oil company back
The Associated Press August 20, 2008
By NATALIYA VASILYEVA
MORE FROM BUSINESSWEEK
MOSCOW
An Iraqi Cabinet minister invited Russia's Lukoil on Wednesday to renew its bid on the vast West Qurna-2 oil field and urged Russian companies to seek roles rebuilding dilapidated power plants as Iraq searches for foreign investment to revive its oil industry and infrastructure.
"I hope Russian companies will take part in the bidding," Iraqi Electricity Minister Karim Wahid told a news conference in Moscow. "Lukoil is welcome to bid for the service contract at the second or third stage of the tender in March or September."
Lukoil signed a contract for West Qurna-2, one of the largest oil fields in the world, in 1997. Former Iraqi dictator Saddam Hussein declared the deal void shortly before the 2003 U.S. invasion. West Qurna-2 is believed to hold 6 billion barrels in proven reserves
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By NATALIYA VASILYEVA
MORE FROM BUSINESSWEEK
MOSCOW
An Iraqi Cabinet minister invited Russia's Lukoil on Wednesday to renew its bid on the vast West Qurna-2 oil field and urged Russian companies to seek roles rebuilding dilapidated power plants as Iraq searches for foreign investment to revive its oil industry and infrastructure.
"I hope Russian companies will take part in the bidding," Iraqi Electricity Minister Karim Wahid told a news conference in Moscow. "Lukoil is welcome to bid for the service contract at the second or third stage of the tender in March or September."
Lukoil signed a contract for West Qurna-2, one of the largest oil fields in the world, in 1997. Former Iraqi dictator Saddam Hussein declared the deal void shortly before the 2003 U.S. invasion. West Qurna-2 is believed to hold 6 billion barrels in proven reserves
--MORE--