The Ministry of Oil announced today, Tuesday, the date of the final signing of a service contract and development of the field east of Baghdad, the southern part with a Chinese company, stressing the importance of production of crude oil from this field for the operation of power plants, constructions and industrial projects.
"The ministry will finalize the service contract on Wednesday to develop a field east of Baghdad - the southern part with the Chinese company Genghua Oil," ministry spokesman Assem Jihad said in a statement received by the Journal News.
Jihad added that "the Ministry of Oil aims through this contract, which was approved by the Council of Ministers recently to develop the field and access to production to 40 thousand barrels within five years," adding that "the Chinese company will also build an oil city housing residential units and service facilities integrated" .
"The contract obligates the contracting company to rely on the national labor force by a large percentage," he said. "The importance of producing crude oil from the field is for the supply of crude oil and gas associated with power plants, industrial facilities and other projects."
The Ministry of Oil announces from time to time signing contracts with large international oil companies to develop Iraqi oil fields and increase production.
SOURCE
"The ministry will finalize the service contract on Wednesday to develop a field east of Baghdad - the southern part with the Chinese company Genghua Oil," ministry spokesman Assem Jihad said in a statement received by the Journal News.
Jihad added that "the Ministry of Oil aims through this contract, which was approved by the Council of Ministers recently to develop the field and access to production to 40 thousand barrels within five years," adding that "the Chinese company will also build an oil city housing residential units and service facilities integrated" .
"The contract obligates the contracting company to rely on the national labor force by a large percentage," he said. "The importance of producing crude oil from the field is for the supply of crude oil and gas associated with power plants, industrial facilities and other projects."
The Ministry of Oil announces from time to time signing contracts with large international oil companies to develop Iraqi oil fields and increase production.
SOURCE