Lukoil starts output at Iraq oil field

Lukoil has started commercial production from the West Qurna-2 oil field in Iraq. The Russian oil company said at the weekend that it reached its target output level of 120,000 barrels per day on Friday. According to the contract between Lukoil and the Iraqi government, the firm must maintain that level of production for the next 90 days to start receiving a return on its investments.