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In a 28-month project, Litasco, an oil trading arm of the Russian oil company Lukoil, will finance the doubling of Iraq’s Nassiriya oil production capacity to 200,000 barrels per day. The Iraqi cabinet announced that part of the deal includes building a 100,000 bpd oil production facility and a 42 km oil pipeline by a joint venture between Iraq’s State Company for Oil Projects (SCOP) and Italy’s Progetti Europa & Global.

Russian Oil Company Litasco will Finance Iray’s Nassirya oilfield, doubling output

In a 28-month project, Litasco, an oil trading arm of the Russian oil company Lukoil, will finance the doubling of Iraq’s Nassiriya oil production capacity to 200,000 barrels per day. The Iraqi cabinet announced that part of the deal includes building a 100,000 bpd oil production facility and a 42 km oil pipeline by a joint venture between Iraq’s State Company for Oil Projects (SCOP) and Italy’s Progetti Europa & Global.

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