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Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)
Jassim al-Jabiri, Ali al-Aqily, Ben Van Heuvelen and Staff of Iraq Oil Report
Tuesday, January 13th, 2026

BASRA - The Iraqi Cabinet has authorized the state-run Basra Oil Company (BOC) to take over "field administration" at West Qurna 2 as U.S. sanctions are set to take effect on Jan. 17 against the project's current operator, Russia's Lukoil.

Several BOC officials described the step as a temporary measure to enable the field, which averaged nearly 480,000 barrels per day (bpd) of production in 2025, to keep operating while efforts continue to transfer the contract to another international oil company.

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