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Syria's Company Ready to Fulfil Iraqi Contract Instead of LUKoil - 11 January, 2003

The Syrian corporation Al-Bayan instead of the Russian company Lukoil is ready to fulfil the contract for the development of the Iraqi oil field West Qurna, said Al-Bayan general director Mohammad Saad in an interview with an Iraqi daily.

In early December Iraq announced breaking the contract with Lukoil for the development of one of the largest Iraqi oil fields, West Qurna. The Russian company is accused of having failed to meet its commitments. Meanwhile, Baghdad said the contract remains for Russia and can be passed to another Russian company at the discretion of the Russian government.

The Syrian company Al-Bayan is already operating in Iraq within the framework of a 300-million-dollar contract signed with it early last year for the development of four oil fields. The Syrian company also employs Russian oilmen, said Al-Bayan management.