Iraqi Oil Minister: Russian "Lukoil" Investments in Iraq Estimated in Billions of Dollars

Iraqi Oil Minister Ihsan Abdul Jabbar spoke about Russian companies' investments in the Iraqi oil sector, noting that Russian "Lukoil" investments in Iraq are estimated at billions of dollars. In an interview with RT during the St. Petersburg Economic Forum, he mentioned that the history of cooperation with Russian companies dates back to the 1970s. He pointed out that Russian oil companies have implemented several major projects in Iraq that continue to produce to this day, and that Russian companies are currently participating in numerous large energy projects in Iraq, a member of OPEC. Regarding the Russian companies active in the Iraqi oil sector, he highlighted "Gazprom Neft," "Lukoil," and "Rosneft," stating that "Lukoil" is a major investor in the "West Qurna-2" field and other fields. He noted that "Lukoil's" investments in Iraq are estimated at billions of dollars, and it is expected that oil production from the "West Qurna-2" field will reach one million barrels per day in October. He added that the share of Russian investments in the Iraqi oil industry is substantial, emphasizing that Baghdad provides considerable support to the Russian companies operating in Iraq. The St. Petersburg International Economic Forum commenced yesterday, Wednesday, taking place in person with health safety measures and using modern digital technologies.