Norway’s Statoil Hydro is contemplating departing Iraq. It is currently working with Russia’s Lukoil, and the Iraqi state-run North Oil Company in a joint venture to develop the West Qurna Phase 2 field in Basra. Since late-2011, Statoil has been considering selling its share of the company, because of the various problems it has run into in Iraq, and now appears ready to finalize that deal.

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