MOSCOW (Sputnik) — Russian energy giant LUKoil estimates investments in the second stage of the West Quarna-2 project in Iraq at $6.5 billion, the company's CEO Vagit Alekperov said Thursday.
"Regarding the second stage, the investment there is $6.5 billion. As for now, we have already developed the concept," Alekperov said.
LUKoil is involved in several projects in Iraq, including the development of West Qurna-2, which is one of the largest oil fields in the world.
LUKoil owns 75 percent of the West Qurna-2 oil field development project, with the remaining share of 25 percent owned by the Iraqi North Oil Company.