IOC discontent with the Iraqi government is simmering, with Russian private firm Lukoil the latest to express the general dissatisfaction. CEO Vagit Alekperov expressed his frustration on the sidelines of this week’s Adipec conference in Abu Dhabi, slamming Baghdad’s “delayed decision making.” This is becoming a common litany (MEES, 12 July).
The firm operates the 400,000 b/d West Qurna-2 (Lukoil 75%op, 25% North Oil Company) and has ambitious plans to eventually hit 800,000 b/d as per its renegotiated production plateau target (PPT). The first installment of this, a bump up to 490,000 b/d, is expected in 2020. (CONTINUED - 383 WORDS)