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Lukoil Sees West Qurna-2 Output Rising to 400,000 bpd

Source: Reuters 1/28/2014, Location: Middle East

Lukoil, Russia's No.2 oil producer, expects to reach production of 400,000 barrels per day (bpd) at its Iraqi West Qurna-2 field this autumn, with initial output of 120,000 bpd seen in April-May, CEO Vagit Alekperov said.

Alekperov, also the largest shareholder at Lukoil, told reporters that the company's planned investments this year would be in line with 2013 at around $20 billion.

He added that Lukoil, which has just signed a cooperation agreement with Mexican state-run firm Pemex, will examine possible joint projects this autumn.

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