Lukoil Opts Against Bid for Exxon Stake in Iraq’s West Qurna-1
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OAO Lukoil, the Russian oil producer with the most assets abroad, opted against bidding to replace Exxon Mobil Corp. at the West Qurna-1 field in Iraq, said Andrei Kuzyaev, head of Lukoil Overseas.
Lukoil sees the additional risk as too great given that it already operates the adjoining West Qurna-2 project without a partner, Kuzyaev said in an interview posted on the website of state television Rossiya 24.