Trading With Iraq: Major Players 2009
Go Russian, this was not the only rapport Iraq will enjoy soon with other countries. Prime Minister Nuri Al-Maliki revealed that another major governmental cooperation is on the horizon. Al-Maliki said a delegation from Russian Company Lukoil will pay Baghdad a visit very soon to pen new contracts for developing Iraqi oil fields. Of course neither Iraq nor any other Middle Eastern country have the knowledge, experience or resources to professionally run such a profitable project, so keeping hold of the foreign experts is again a good call by the government.
“We have agreed to visit officials from Lukoil in Baghdad soon, in order to conduct negotiations with the Ministry of Oil, adding that the Iraqi government has ideas that could satisfy the company and at the same time conform with Iraqs economic and oil policy,” Al-Maliki told Russian publication Vremya Novosti.
The Russian corporation was in charge of West Qurna oilfield more than a decade ago, but the deal was called off as a result of the unstable circumstances during the horrendous era of then President Saddam Hussein, whom many people think of as a tyrant that completely damaged the country’s economy at the time. But now Lukoil seems close to getting back in business in Iraq.
“The giant Russian company Lukoil, had signed a contract in 1997 worth billions of dollars for the development of the large West Qurna oilfield -2, but was expelled from the country before the events of March 2003 because of disagreements with the previous regime,” the minister explained.
“The contract can be renewed with this company, or we can work with other companies. All these issues will be the subject of negotiations, and therefore, we call for Lukoil officials to visit Baghdad. We will be happy if Lukoil win the rights to develop this field.”
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This article may be reprinted online and offline
as long as this box remains and its link is
hyperlinked online. Written by Darren Chabluk
for http://DrDinar.com/blog
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