>From: Peter Lavelle <plavelle at rol.ru>
>Reply-To: Peter Lavelle <plavelle at rol.ru>
>To: "Chris Doss" <itschris13 at hotmail.com>
>Subject: Re: Fwd: Re: [lbo-talk] LUKOIL to challenge Iraq oilfield
>contenders-paper
>Date: Tue, 8 Apr 2003 19:55:13 +0400
>
>Sure do. Most of the story is a storm in a teacup. Yes, the contract
>was signed, but because of problems with LUK and Iraq little
>development was accomplished. Sanctions played a small role. LUK
>invested very little money in the project - though it makes it sound
>like a hugh loss. Saddam did illegally break the contract. Now, with
>Saddam almost gone, LUK will try to get the contract back. I doubt it
>will - some other Russian company will get it!
>
>Tuesday, April 8, 2003, 7:35:16 PM, you wrote:
>
>
>CD> Know anything about this?
>
>
> >>
> >>Chris,
> >>
> >>My understanding of Lukoil and West Qurna was that they had signed an
> >>original contract in 1997 with the Iraqi government to develop the West
> >>Qurna
> >>fields. They were prevented from developing by sanctions as particularly
> >>stressed by the US. That was why they ultimately turned directly to the
>US
> >>to
> >>pursue American guarentees to keep oil rights post any government change
>in
> >>Iraq. And that led to Iraq throwing them off the contract in Dec. 2002.
> >>
> >>Is that incorrect?
> >>
> >>Nomi
>
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