Baghdad / NINA /- The Iraqi Embassy in the Russian Federation issued a clarification on Friday regarding reports circulated by some media outlets about the nationalization of the West Qurna-2 oil field in Basra Province.

In a statement, the embassy said that reports published by Reuters claiming that Iraqi authorities were planning to nationalize one of the world’s largest oil fields operated by Russia’s Lukoil, and that the Iraqi Council of Ministers had approved such a move, do not reflect the legal reality of the field. The embassy stressed that West Qurna-2 is fully owned by the Iraqi state.

It explained that Lukoil operates the field under a service contract signed during the 2008 licensing rounds, under which the company was responsible for management, development, and oil production in return for agreed service fees, without any ownership rights over the field.

The statement added that recent U.S. sanctions imposed on Lukoil, and the company’s declaration of force majeure, necessitated measures to ensure the continued production of approximately 480,000 barrels per day from the field. Accordingly, on January 7, 2026, the Iraqi Council of Ministers approved assigning the Basra Oil Company to manage petroleum operations at West Qurna-2, in line with the provisions of the service and development contract.
The decision also included obtaining the required approvals to finance petroleum operations through the Majnoon field account, by boosting the account via the sale of oil cargoes by the State Organization for Marketing of Oil (SOMO).

The embassy confirmed that Lukoil will remain involved for a period of one year, during which it has the right to transfer its contractual rights and privileges to any qualified company in accordance with the Ministry of Oil’s criteria, or to resume its role as operator should the sanctions be lifted./ End



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