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West Qurna-2 Oil Field Project

Sector: Oil and Gas • Location: Iraq

Source: RBC-Ukraine

Project
Halted

The West Qurna-2 oil field project in Iraq is a large oil production project with a capacity of around 480,000 barrels per day. Lukoil owns 75% of the project, while the remainder is owned by Iraq's North Oil Company. The project has been affected by US sanctions on Lukoil, leading to a halt in operations due to a declared force majeure. Iraq is seeking a six-month sanctions waiver to allow more t

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Project Information

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The project “West Qurna-2 Oil Field Project” is an infrastructure initiative in the Oil and Gas sector, located in Iraq. Taiyo aggregates data on it from RBC-Ukraine.

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Participants

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halted

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Description

Description

The West Qurna-2 oil field project in Iraq is a large oil production project with a capacity of around 480,000 barrels per day. Lukoil owns 75% of the project, while the remainder is owned by Iraq's North Oil Company. The project has been affected by US sanctions on Lukoil, leading to a halt in operations due to a declared force majeure. Iraq is seeking a six-month sanctions waiver to allow more time to sell its stake in the project to potential buyers, including one Chinese and two Western companies.

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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