Iraq Nationalizes West Qurna 2 as Chevron and Quantum Eye Lukoil Assets
Baghdad takes back control of the West Qurna 2 oil field, operated by Lukoil until US sanctions hit. Chevron and Quantum are offering $22 billion for all of the Russian group’s international assets.
| Countries | Émirats Arabes Unis, Suisse, Irak, Russie, États-Unis |
|---|---|
| Companies | Rosneft, SOMO, Chevron, Lukoil |
| Sector | Pétrole |
| Theme | Politique & Géopolitique |
The Iraqi government has approved the nationalization of petroleum operations at the West Qurna 2 field, in accordance with the provisions of the service contract signed with Russian group Lukoil. The cabinet also authorized financing operations through revenues from the Majnoon field, supplemented by crude sales from state marketer SOMO. This decision follows Lukoil’s declaration of force majeure in November, triggered by US sanctions imposed on the group alongside Rosneft.
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