Russia's Lukoil is continuing talks with the Iraqi government over increasing investment and oil output at its West Qurna-2 project there, the company's first vice president Ravil Maganov told reporters on Tuesday.

"They (the Iraqi government) are saying keep output at 400 (thousand barrels a day) and cut investment. But we are now holding talks so we can increase in the end," Maganov said.

He said Lukoil would have eight oil shipments from Iraq in May and the same number in June.-Reuters