Lukoil says it will consider an offer from Exxon Mobil (XOM) to take over the West Qurna-1 oilfield in Iraq. Lukoil already is developing West Qurna-2 and is looking to offset declining production at its Russian fields. The government expects XOM to complete the sale of its shares in West Qurna-1 by year-end, and the company has told Iraq it is already in talks with other oil majors.
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