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Russia returns to Iraq – for oil

SPECIAL TO WORLD TRIBUNE.COM
Monday, April 4, 2005

MOSCOW – Russia is returning to Iraq's oil sector.

Russia's Soyuzneftegaz plans to begin development of Al Rafidayn oil field in Iraq by the end of 2005. Soyuzneftegaz chairman Yury Shafranik said the company's effort has been supported by the government in Moscow as part of its drive to restore relations between the two countries, Middle East Newsline reported.

"The company is making contacts with foreign partners about the project, in particular, with U.S. and UK partners," Shafranik told Itar-Tass in an interview. "This type of cooperation will allow the country to be quickly brought out of crisis."

Shafranik said other Russian companies would also return to Iraq.

He cited LukOil, which has sought to restore operation at Western Qurnah-2.

LukOil was said to have formed an alliance with the U.S. firm ConocoPhillips.


Copyright © 2005 East West Services, Inc.

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