MOSCOW, June 28 (RIA Novosti) - Negotiations on the West Qurna oil deposit in southern Iraq, which is owned by LUKoil, are proceeding with difficulty, Vagit Alekperov, the oil major's chief executive, told reporters Tuesday.
Alekperov said he would visit Iraq in fall. According to him, the company's office in Baghdad is operating as usual, and the company is continuing to cooperate with Iraq's oil ministry.
Earlier, Alekperov said the agreement with the Iraqi government on joint development of West Qurna, a major oil deposit in the world, could be signed before the end of this year.
LUKoil owns a 68.5% share in the West Qurna project. According to estimates, West Qurna contains 20 billion barrels of oil. The Iraqi side holds a 25% share in the project. American oil giant ConocoPhillips is a partner in promoting LUKoil rights under the contract signed before the U.S.-led campaign in Iraq.
