At West Qurna oilfield, Iraq desires to replace ExxonMobil, by appointing Russian company. This is the aftermath of US major’s anger in Baghdad due to the venture in Kurdistan. Naturally, the northern Kurdish is angry over Baghdad for appointing oil majors like Exxon, Total and Chevron in the Kurdish area. They claimed new contract to be called as illegal.
A weekly energy newsletter, Nefte Compass has revealed some facts over the FSU and Eastern Europe. It said that Iraq is still into a dilemma whether to replace Russia's LUKOIL and Gazprom Neft with Exxon or not! In this context, it is to be noted that LUKOIL and Gazprom Neft both are already there in the country dealing with major oil exploration projects.
The matter is now depending upon the meeting between Iraqi Prime Minister Nouri al-Maliki and Russian President Vladimir Putin. However, last week a meeting was held between the two, but no discussions over this issue took place.
Russian spokesman for second largest crude producer of the world – LUKOIL, said that the company is not at all keen to increase its stake and exposure in Iraq, by working at West Qurna – 1, repeating company’s official line – they are satisfied with their portfolio in Iraq.
Gazprom Neft, world’s largest natural gas producer, has declined to say anything on this issue.
According to the sources, Russian company Rosneft – an oil producer, is likely to be teamed up with Exxon in Iraq. However, Rosneft remains unsaid on this issue also.
Russian president, Putin, a vocal opponent of the U.S.-led invasion of Iraq in 2003, has claimed that Russia will increase its presence in the OPEC oil producer – at the meeting, held with Al-Maliki.
Sources also illustrates that Gazprom Neft has no plans to stop working on Kurdish project. The company is already associated with Iraq in a project that commits output of 15000 barrels per day, at the Iranian border of Iraq.