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Exploration and Production In 2004, ConocoPhillips and LUKOIL announced their intent to seek the right to develop the West Qurna field in Iraq. Subject to confirmation of LUKOIL’s rights under its Production Sharing Agreement (PSA) related to the field, as well as the consents of governmental authorities and parties to the contract, ConocoPhillips expects to enter into further agreements regarding the assignment of a 17.5 percent interest in the PSA to ConocoPhillips by LUKOIL.
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