Report: Lukoil may produce oil in Kuwait, Oman, UAE, Iran

MOSCOW, Feb 27 (PRIME) -- Russian oil major Lukoil is studying production in Kuwait, Oman, Iran, and on the shelf of the United Arab Emirates (UAE), Lukoil Overseas’ Senior Vice President Gati Al-Jebouri said in an interview to Bloomberg TV broadcast on Monday.

The agreement between OPEC and non-OPEC countries on an oil production cut provides stability to the oil market, but the agreement did not cover Lukoil’s projects in Iraq, where the company produces about 400,000 barrels a day, he said.

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