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Lukoil Starts New Iraq Oilfield as Output Reaches 35-Year High

OAO Lukoil started producing crude from Iraq’s second-largest oilfield as the nation boosts output to levels last seen more than three decades ago.

The West Qurna-2 field in southern Iraq has been producing at a rate of 120,000 barrels a day since yesterday, operations manager Gennady Budarin said an interview in Basra, before the official inauguration ceremony today. Russia’s biggest publicly traded oil producer expects to bring the field’s output to 400,000 barrels a day by the end of the year, he said.