OREANDA-NEWS. On November 21, 2007 the 6th meeting of Joint Steering Committee and technical team, established and operating pursuant to Memorandum of understanding and cooperation signed on March 10, 2004 between the Ministry of Oil of the Republic of Iraq and LUKOIL, was held in Damascus, reported the press-centre of LUKOIL Overseas.

The participants of the meeting pointed out that all decisions made at the previous meeting, which was held in June 2007, are implemented in full scale and within the established timeframes.

It was decided that the Russian party shall proceed with the academic studies and trainings, including short-term (150 students per year) and long-term (10 students per year) educational programs.

Furthermore the representatives of LUKOIL Overseas informed the participants on joint studies progress, including processing of seismic data, evaluation of petroleum potential, development of reservoir management plans and geological models for a number of fields in the Republic of Iraq. These studies will continue to the end of 2008.

The parties agreed to hold the next meeting of the Joint Steering Committee in April 2008.