This week’s MEOG looks at Iraq’s plans to expand production from its supergiant West Qurna-1 (WQ-1) oilfield, while
Iraq’s
According to a statement from Deputy Oil Minister
The WQ-1 field development project taps combined oil and condensate reserves of more than 22bn barrels in the southern portion of the broader West Qurna deposit, with the northern WQ-2 project led by Russia’s Lukoil.
The news of the contract broke amid ongoing efforts by
Meanwhile, the
Under a framework deal agreed between the parties, Eximbank will provide ADNOC with project finance for developments for which Korean firms are contracted.
The deal was signed during a meeting between HE Dr.
Bang said that the deal “is expected to strengthen a co-operative relationship between the two institutions. Eximbank’s various financial programmes will continue to help expand Korean companies’ overseas contracts”.
Representatives of Eximbank told local media that the loan was expected to provide a platform for Korean companies to develop stronger ties with counterparts in the
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