Lukoil, Samsung Sign $1B Deal To Develop Iraq Oil Field

Law360, New York (March 22, 2012, 8:12 PM EDT) -- Lukoil Mid-East Ltd. inked a reported $1 billion contract Thursday with Samsung Engineering Co. Ltd. to build 67 development wells and several other pieces of critical infrastructure at Lukoil's West Qurna-2 oil field in Iraq.

The contract was one of three that Lukoil's Iraqi arm signed to advance West Qurna, according to a statement Lukoil issued Thursday. The company also awarded two smaller contracts: one to Turkey's Enka Insaat ve Sanayi AS for a gas turbine power plant, and another to a joint venture of France's...
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