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Russia reveals the size of its investments in Iraq
| Tuesday 26 February |
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announced that the Russian ambassador in Baghdad, Maxim Maximov , Tuesday that Russian investments in the Iraqi oil and gas sector worth more than $ 10 billion, noting that Russian companies are planning to increase these investments.
"Russian investments in the Iraqi oil and gas sector are more than 10 billion dollars," Maximov told Russian news agency Sputnik. "Russian companies do not intend to stop at this volume of investments."
He added that "Lukoil is implementing the project of West Qurna 2, which began to extract oil from it in March 2014 (400 barrels per day) and Lukoil continues to implement the Block 10 project in Iraq , in addition to the company Gazprom also participates in the implementation of Badra Project in Wasit Governorate ".
Maximov said that "Russian companies in their future plans are considering the possibility of their participation as a operator in the development of other hydrocarbon fields."
A number of Russian companies are developing a number of oil fields after participating in the first and second licensing rounds.
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