Lukoil launches giant West Qurna 2 oilfield in Iraq

• Russia's Lukoil (LUKOY, LUKOF) finally launches commercial production from the giant West Qurna 2 oilfield in Iraq in a move expected to lift the country’s output to record levels of ~4M bbl/day this year.
• Production from one of the world’s largest untapped oilfields, with recoverable reserves estimated at ~14B barrels, is set to rise to 400K bbl/day by year-end from an initial rate of 120K.
• The launch of the field after lengthy delays also will allow Lukoil, which holds a 75% stake as operator, to more than double its overseas output.Source: 
• Source:Seeking Alpha   March 31, 2014