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Lukoil, Samsung in deal to up Iraq output
Baghdad (AFP) March 22, 2012
Lukoil signed a $1 billion deal with South Korea's Samsung Engineering on Thursday to develop Iraq's second-biggest oil field, in which the Russian energy giant has a majority stake. The agreement is part of efforts to increase to 1.8 million barrels per day (bpd) crude output at the West Qurna-2 field in the south of the country, which has known reserves of 12.876 billion barrels.
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