ConocoPhillips, fresh from acquiring a large stake in Russian oil giant LUKoil, is eager to expand in Russia beyond that partnership, particularly on the natural gas front, its chief executive said.

Conoco, which through LUKoil could potentially win access to developing the West Qurna oilfield in Iraq, also intends to start discussions with the Iraqi government after elections in the war-torn country early next year, CEO Jim Mulva said.
He declined to comment on how much Conoco planned to invest in Iraq, saying it was too soon.
“Obviously we would like to see that this becomes substantial and large,” Mulva said.
“We’re interested in development in Iraq but it’s premature to say just how we would participate over and above what potentially could be done with LUKoil and West Qurna,” he said
Conoco bid almost $2 billion to win a 7.6 per cent LUKoil stake and launched a $628 two-day tender for another 2.4 per cent. The company has said it wanted to acquire a 10 per cent stake by the end of the year.
Mulva’s ambitions in Russia extend well beyond its LUKoil bids, among the most ambitious investments by a Western oil major in recent months.