IraqMiddle East

Russian Energy Minister to travel to Iraq

SergeiShmatko

Russian Energy Minister Sergei Shmatko is scheduled to visit Iraq in the first half of August to discuss oil and energy cooperation.

“First of all (there will be) a working group to analyze the pre-war contracts,” Shmatko told reporters on Friday.

“Secondly, there is gathering a fairly large group of energy companies and of other firms who are interested in developing cooperation with Baghdad,” he added.

The Russian minister further pointed out that his country will not enter new production sharing agreements it finds them unattractive.

In February, the Russian Foreign Minister Sergei Lavrov said his country would make investments in Iraq’s oil, gas and electricity projects.

“We count on launching promising joint projects in the oil, gas and electric power sectors,” Lavrov said.

Russia’s biggest private oil company, OAO Lukoil, is seeking to regain a role in developing Iraq’s giant West Qurna field.

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