Russian oil and gas company Lukoil has drawn up plans to explore the Kirkuk oilfield onshore Iraq
The company has reached an initial agreement with Baghdad to revive the old oilfield, which witnessed a significant deterioration in its production, an unnamed source said.
Lukoil has already been developing the giant West Qurna-2 in southern Iraq, which is expected to start oil production by the end of the year.
The source added, “The Russian government sent a letter to Iraqi Prime Minister about Lukoil’s interest in the Kirkuk field.”
Lukoil is reportedly looking to expand its activities in the oil industries abroad in order to stop the decline in domestic production.
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