Company Lukoil, the Russian oil giant, has signed an agreement with the South Korean Samsung on the supply of equipment for the development of an oil field in Iraq. The amount of the transaction will be one billion US dollars.
We are talking about the West Qurna-2 field, one of the largest in the whole country. Its reserves, according to experts, amount to 12.876 billion barrels. The current development goal is to achieve 1.8 billion barrels of daily oil production. In this case, the field will provide more than half of all oil production in Iraq.
The equipment will be supplied by a special division Samsung – company Samsung Engineering, in addition to the supply of oil-producing equipment, the manufacturer also undertakes to carry out all work on setting up and equipping the wells of the field.
