Lukoil has returned $5.6 bln of expenditure for Western Qurna-2 in Iraq
Edited by Rhod Mackenzie / 2016-06-06 06:04:03
By the end of Q1 Lukoil has returned $5.564 bln of expenditure for the development of the Western Qurna-2 deposit in Iraq, another $1.5 bln remains.
According to Lukoil, in Q1 it received compensatory oil from the Western Qurna-2 worth $395 mln. The total expenditure of the company for the project makes up $7.065 bln as of March 31st 2016.
In Q1 2016 the extraction at the Western Qurna-2 made up 5.542 mln tons against 3.889 mln tons in Q1 2015. 2.555 mln tons were shipped as the settlement of the debt.
Previously the Vice-President of Lukoil, L. Fedun, said that Lukoil in 2016 invests $50 mln in Iraq and will have $1.5 bln of compensation. Until the end of 2016 the Western Qurna-2 is supposed t pay back.
