Lukoil, Shell May Buy Exxon Stake in West Qurna-1, RBC Reports

OAO Lukoil is in talks to buy 37.5 percent of the West Qurna-1 field in Iraq from Exxon Mobil Corp. (XOM), RBC Daily reported today, citing unidentified people.

The deal may be completed by the end of the year, the newspaper said. Royal Dutch Shell Plc (RDSA) may buy the rest of the U.S. oil producer’s 60 percent interest in the project, increasing its own stake to 37.5 percent, the daily said.

Lukoil’s press service and Shell’s Moscow press service declined to comment when called by Bloomberg News. Exxon Mobil didn’t immediately reply to requests for comment.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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