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. Last Updated: 07/27/2016

Rosneft Said in Qurna Talks

Rosneft has been in talks with ExxonMobil on the possibility of teaming up to tap Iraq's huge West Qurna-1 oilfield, Kommersant reported Friday.

The daily said Rosneft may secure 20 percent in the project, operated by Exxon in southern Iraq.

West Qurna-1, an 8.7-billion-barrel field in southern Iraq, is producing 406,000 barrels per day, which is expected to rise by 100,000 bpd later this year, an Iraqi oil official said in April. Exxon's participation in West Qurna was complicated when the U.S. company angered Baghdad last year by signing an exploration deal with the Kurdistan Regional Government that the central government considers illegal.

(Reuters)