US EditionIraq Invites US Companies to Bid on West Qurna 2 Oilfield
Iraq seeks to transfer Lukoil's West Qurna-2 stake to US companies to align with sanctions and attract Western investment, with nearly 13 billion barrels in reserves.
- On Monday, Iraq's Oil Ministry invited several major American oil companies to submit bids to take over management of the West Qurna-2 oil field, with the winner replacing Lukoil PJSC as operator.
- Following US sanctions in October that took effect on November 21, US President Donald Trump pressured Lukoil PJSC, Russian oil company to sell assets, and the Iraqi government assumed marketing to keep crude flows steady in November.
- The West Qurna-2 field holds close to 13 billion barrels of recoverable reserves and was awarded to Lukoil PJSC in 2009, with production starting in the early 2010s.
- The ministry framed the transfer as serving common interests and sustaining Iraq's oil production and market quotas, while attracting Western investors and technical partners aligned with Washington's strategic preferences.
- The Oil Ministry will approach a limited number of US producers for direct talks, while the Trump administration prefers US buyers and Bloomberg named ExxonMobil and Chevron as potential suitors.
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The New Arab
Free Malaysia Today NewsIraq invites US companies to bid on oil field run by Russia’s Lukoil
Iraq's oil ministry announced on Monday that it had invited US companies to bid on an oil field which had been operated by the now American-sanctioned Russian company Lukoil for years. The oil ministry said in a statement it had taken "all necessary measures to directly and exclusively invite several major American oil companies... to submit bids" to take over the management of the West Qurna 2 in southern Iraq, which is one of the world's large…
Iraq Courts US Firms for Lukoil Stake Amid Washington Support
Iraq plans to invite a select group of major US oil companies for direct negotiations over the acquisition of Lukoil PJSC’s stake in the giant West Qurna-2 oil field, as Baghdad accelerates efforts to reshape ownership of one of its key energy assets.
Iraqi authorities have decided to transfer Lukoil's local assets to American oil giants. This includes the largest oil and gas field owned by the Russian company.
Baghdad Is Negotiating with Washington! the Americans Could Take over Lukoil's Largest Foreign Asset
Iraq's Oil Ministry has announced the start of direct negotiations with American companies to take over Russian giant Lukoil's stake in the West Qurna-2 oil field, Bloomberg reports. Iraqi authorities have not made public the names of potential buyers, but, according to the cited sources, companies such as ExxonMobil and Chevron have previously expressed interest in Lukoil's international assets, which the company is forced to sell in an acceler…
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