Lukoil ships Iraqi oil for West Qurna-2 project
Two oil carriers with 2mn barrels capacity each left from Basra
LUKOIL has shipped two oil carriers with the capacity of 2mn barrels each from the Southern Iraqi port Basra under the West Qurna-2 project.
The company has been chartered to buy-back oil from Iraq by its international trading arm LITASCO.
LUKOIL receives buy-back oil under the Service Contract as part of the recovery of LUKOIL's costs from phase one of the West Qurna-2 project.
One of the oil carriers has headed for Italy, where its oil will be processed at LUKOIL’s ISAB refinery in Priolo, Sicily.
The other oil carrier, LUKOIL has announced, already delivered the first 1mn barrel batch of buy-back oil to the port of Augusta on the 1st. of Septmeber.
The major part of the first oil was routed to LUKOIL’s ISAB refinery in Priolo.
Production at the West Qurna-2 field currently exceeds 300 thousand barrels per day.