Oil Price reported that Russia is seriously attempting to boost its influence in the Iraqi oil and gas industry. This journal wrote that Russia's oil company, through contracts in October 2017 with Kurdistan Regional Government, has effectively taken the control of the oil and gas sector of the Kurdish region.

According to the paper, the Russian government is now planning to have a stronger presence in the fields in southern Iraq.

Oil Price writes the Russian government is trying to sign new contracts with the Iraqi central government on the development of oil and gas fields.

Russia is trying, indirectly, to play a mediating role to resolve differences between the Iraqi government and the Kurdish regional government in the oil-rich Kurdish region, the paper said.

The paper also cited Russian Ambassador to Iraq Maxim Maksimov, who said Russian companies were willing to invest in the Mansouriya gas field in Iraq's Diyala province.

The report noted that two Russian oil companies, along with Rosnaft- affiliated companies, plan to invest $20 billion in Iraq's oil and gas industry.

The Russian Oil Company, based on 2017 contracts with the Kurdistan Region, spent about $4 billion on oil and gas fields in Kurdistan Region’s oil. In addition, two other Russian companies operate in the region.

Reporter’s code: 50101