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A senior Russian energy official is in Iraq to try and persuade the current government in Baghdad to resurrect oil deals that were signed during the Saddam Hussein-era.
News agency Reuters has reported that Sergei Shmatko, Russia’s Energy Minister, held extensive talks regarding restoring economic ties between the countries with the Iraqi Prime Minister Nuri al-Maliki, Oil Minister Hussain al-Shahristani, and Electricity Minister Karim Waheed.
“Today it has been agreed between the Iraqi Oil Ministry and Lukoil to hold further dialogue regarding contracting conditions based on Iraqi conditions,” Shmatko is quoted by Reuters as saying.
Shmatko wants the Iraq government to restore contracts signed by Russian companies, including a US$3.7 billion deal to develop Iraq’s West Qurna field, in the 1990s and therefore skip the forthcoming second round of oil auctions due to take place in late 2009.
“Some Russian companies have already worked in Iraqi oilfields and signed deals to work in those fields. The Iraqi oil minister has suggested to Russian firms that want to continue those projects that they must take part in the second bidding round,” Shmatko added.
Russia has been on a major charm offensive regarding Iraq’s hydrocarbon assets in the past few days. Lukoil CEO, Vagit Alekperov, recently said that 15,000 Iraqi jobs would be created if the company was successful in its bid to develop the al-Qarna al-Gharbiya 2.
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