VOLGOGRAD, Russia, June 25 (Reuters) - Iraq's decision to split crude oil export flows into lighter and heavier grades has removed logistical glitches and allowed several producers to lift self-imposed output curbs, Russia's Lukoil said.

Iraq - which sells more than half of its oil to Asia - chose last year to split its supply into two grades, adding Basra Heavy to its traditional Basra Light.

Ravil Maganov, Lukoil's deputy president for exploration and production, said the decision to split grades was beneficial for the company. Lukoil is developing Iraq's giant West Qurna-2 oilfield, which now produces 450,000 barrels per day.

"All the problems with the restrictions were removed by the Iraqis. They created a separate system of transportation (for heavy oil)," Maganov told reporters in the Russian city of Volgograd, formerly Stalingrad, where Lukoil was holding an annual general meeting.

The move by Iraq's State Oil Marketing Organisation was widely supported by crude buyers who had been dealing with variations in the quality of Basra Light as heavier, high-sulphur oil from newer fields was blended in.

The separation of Basra Heavy from Light has cut the waiting time for different crudes to arrive at terminals for blending, which had caused expensive delays in ship loading.

Maganov also said Lukoil expects to recoup the investments it made in West Qurna-2 and will reinvest further.

(Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Dale Hudson) ((vladimir.soldatkin@thomsonreuters.com; +7 495 775 12 42; Reuters Messaging: vladimir.soldatkin.thomsonreuters.com@reuters.net))

Keywords: RUSSIA LUKOIL/IRAQ