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Russia and Iraq are trying to restore the oil contracts
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Translated by IRAQdirectory.com - [4/12/2009]
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The Russian energy minister stated on Friday after a meeting between the Prime Ministers of Iraq and Russia, saying the two countries agreed to work to revive the contract had been agreed before the US-led invasion to Iraq in 2003.
The minister Sergei Shmatko, said "The goal is to restore the contracts that have been concluded between Russian companies and Iraq before the war."
He added to reporters after a meeting between the Russian Prime Minister Vladimir Putin and his Iraqi counterpart Nuri al-Maliki, "I think this is a very good step."
The Russian (Lukoil) oil company had signed an agreement to develop the Iraqi West Qurna oil field, under the reign of Saddam Hussein. Lukoil is seeking to force the Iraqi government to abide by these contracts.
A source in the Russian company stated in last February that they would be interested to compete for the two fields within a round of 11 oil and gas fields, including West Qurna and Rumaila.
Shmatko said that Putin had received assurances of acquiring the Russian companies to an equal treatment in bidding for oil exploration and fields' service as declared by the Iraqi government.
Russia also won "tempting offers" to work in the reconstruction and development of power stations in Iraq.
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