Lukoil plans to offset costs on Iraqi fields in August

June 18, 2016 2:06 am 

ST. PETERSBURG, June 17 — Russia’s oil major Lukoil plans to offset the costs on Iraqi fields in August, President Vagit Alekperov told TASS Friday.

"Hopefully, in August," he said when asked when the company’s costs on development of Iraqi fields may be offset.

According to the Lukoil chief, Iraq is ready to launch negotiations to improve contract terms.

"During our latest meeting they (Iraq – TASS) confirmed that they are ready to launch negotiations," he said. (PNA/TASS)

JSV/RSM

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