Norway's Statoil (STL.OS) is intending to sell its stake in Iraq's supergiant West Qurna phase 2 oil field in southern Iraq to Russia's Lukoil (LUKOY), a senior Iraqi oil ministry official told Dow Jones Newswires by phone from Baghdad Thursday.
Norway
's
Statoil (STL.OS) is intending to sell its stake in
Iraq
's
supergiant
West Qurna
phase 2 oil field in southern
Iraq
to
Russia
's
Lukoil (LUKOY), a senior Iraqi oil ministry official told Dow Jones Newswires
by phone from
Baghdad
Thursday.
Statoil and Lukoil were awarded a 20-year service contract for West Qurna Phase
2 in
Iraq
's
second licensing round held in December 2009. The companies promised to get the
southern field pumping at a rate of 1.8 million barrels a day for payment of
$1.15 a barrel.
The official said the ministry wouldn't reject a request from Statoil to sell
its stake to Lukoil. "Lukoil is a qualified company through the oil
ministry and it is the operator of West Qurna Phase 2."
He said, however, the ministry hasn't yet received a formal letter from Statoil
to sell its stake to Lukoil. "The company could have asked the (Iraqi oil)
minister verbally to allow it to sell its stake."
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