January 15, 2013 / 9:01 AM / 5 years ago

LUKOIL head wants Chinese partners for Iraq's Qurna-2

NOVY URENGOI, Russia, Jan 15 (Reuters) - The head of Russian oil company LUKOIL said on Tuesday he would like to see a Chinese company replace Statoil as its partner in its Iraqi oil project, West Qurna-2.

“We are less interested in (investment) money than in long-term marketing of our output,” Vagit Alekperov told reporters in the Siberian gas industry hub of Novy Urengoi, where Prime Minister Dmitry Medvedev was due to meet with industry leaders.

“That is, for us, the most appropriate partners are from China, where there is stable growth in oil consumption, and West Qurna volumes are very large, so they need to be placed efficiently.”

LUKOIL, which reported a 1 percent decline in output last year, is aiming to increase output by 1.5 percent in 2013, Alekperov said. Analysts say the company is seeing some success in fighting declines in its West Siberian oilfields.

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