Source Pravda.Ru

Slavneft And Iraqi Oil Ministry Sign Oil Contract

The Russian-Belarus oil company Slavneft and the Iraqi Oil Ministry have signed a contract for the development of the Lukheis oil field in the south of Iraq, the press service of the oil company reported. Before signing this contract, Slavneft won a tender for the development of the above-mentioned oil field. Now it will drill 25 oil wells. Oil that will be produced from these wells will be exported via ports in the south of Iraq. In addition, the contract provides for drilling 3,000-meter wells in the Nakh Umr and Zubeir oil fields. The contract will become effective in the second half of 2002.