A crude carrier chartered by LITASCO (LUKOIL’s international marketing and trading arm) received the first batch of oil as part of the recovery of LUKOIL’s costs from phase one (“Early Oil”) of the West Qurna-2 project in South Iraq’s port of Basra. The vessel will load one million barrels of oil. It is the first crude carrier to transport buy-back oil that belongs to LUKOIL in accordance with the terms of the West Qurna-2 Service Contract. Meanwhile production at West Qurna-2 has reached a level of 280 thousand barrels per day.The project is continuing according to plan with LUKOIL successfully fulfilling its contractual obligations.
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