Russia's second-largest oil producer, LUKoil, says it has begun pumping crude from an oil field in Iraq that is considered one of the region's most ambitious energy projects.
Senior officials from LUKoil and its partners in the project -- the Iraqi government, the U.S. firm Baker Hughes, and South Korea's Samsung -- attended a ceremony on April 25 marking the start of commercial oil production at the Qurna-2 field near the port city of Al-Basrah.
With an estimated 14 billion barrels of untapped reserves, the Qurna-2 is thought to be the world's second-largest undeveloped oil field.
LUKoil says it plans to invest $25 billion to bring the field to full production.
Senior officials from LUKoil and its partners in the project -- the Iraqi government, the U.S. firm Baker Hughes, and South Korea's Samsung -- attended a ceremony on April 25 marking the start of commercial oil production at the Qurna-2 field near the port city of Al-Basrah.
With an estimated 14 billion barrels of untapped reserves, the Qurna-2 is thought to be the world's second-largest undeveloped oil field.
LUKoil says it plans to invest $25 billion to bring the field to full production.
