Special to WorldTribune.com BAGHDAD — Iraq has signed a $1 billion contract with South Korea to develop a huge crude oil reserve. The Iraqi Oil Ministry signed a service contract with South Korea’s Samsung Engineering for Iraq’s West Qurna Phase 2 oil field. Officials said Samsung would contribute to initial development as part of a […]
Special to WorldTribune.com MOSCOW — Russia has signed major contracts in Iraq. Russia’s LukOil Mid-East has signed contracts for Iraq’s giant West Qurna-2 project, meant to begin production by 2014. Executives said LukOil intended to produce 500,000 barrels of oil in the initial stage over the next year. Lukoil Overseas Holding president Andrey Kuzyaev said […]
Special to WorldTribune.com BAGHDAD — Iraq has approved a nearly $1 billion energy contract. The Iraqi Cabinet has endorsed a $998 million service contract with South Korea’s Samsung Engineering for the development of the West Qurna Phase-2 oil field. The Cabinet reached the decision on Jan. 24 after Samsung appeared on the final list of […]