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By John Lee.
Two rockets have reportedly struck near a Chinese oil facility south of Baghdad on Saturday.
According to AP, there were no casualties.
It cites an Iraqi army statement saying the rockets struck near a Chinese company in the Nahrawan area, and speculates that the company involved is ZhenHua, a subsidiary of the arms manufacturer Norinco, which has been working in the nearby East Baghdad oil field.
(Source: AP)
By John Lee.
The China Petroleum Engineering & Construction Corp (CPECC) has reportedly won a $203.5 million engineering contract to treat sour gas at the Majnoon oilfield in Iraq.
According to Reuters, the field is now producing around 240,000 barrels per day (bpd), with plans to boost output to 450,000 bpd in 2021.
Originally awarded to Shell (45%), Petronas (30%) and the Maysan Oil Company (25%) in 2009, the field was taken over by the state-owned Basra Oil Company (BOC) at the end of June 2018, with operations and maintenance contracted to Chinese company Anton Oilfield Services Group (Antonoil) and the US company KBR.
(Source: Reuters)
By John Lee.
China’s Anton Oilfield Services (AntonOil) has reported that the Group has received written confirmation from its Iraqi customer in advance that it will automatically renew the 2-year contract after its expiry on July 1, 2020 for one year.
In its unaudited interim results for the one year ended 31 December 2019, it added:
“The Group is confident to rely on quality management to continue to create value for customers and strive to provide long-term and continuous management services for the oilfield. In addition, the Group will make every effort to expand towards the markets of other international oil companies in Iraq, actively seek cooperation opportunities with more international oil companies.”
It said that its large-scale integrated oilfield management project in Iraq has been running smoothly for one and a half years, and:
“in 2019, the Company obtained a total of approximately RMB2,137.2 million of new orders in the Iraqi market, an increase of approximately 22.8% compared to RMB1,740.5 million in the same period last year; the Company recorded revenue of approximately RMB1419.8 million, an increase of approximately 21.3% from the RMB1,170.6 million in the same period last year.“
The company is involved in the development of the Majnoon Oil Field in Basra.
(Source: Anton Oilfield Services)
By John Lee.
Following the spread of coronavirus in China, the Iraqi government has provided a special Iraqi Airways airplane with medical staff to evacuate students and the community residing in Wuhan, China, to Baghdad.
Foreign Minister Alhakim has directed the Embassy of the Republic of Iraq to China to form an operations room headed by the Ambassador, and the membership of the cultural attaché which started its duties immediately after its formation, to keep count of the numbers of the Iraqi community in Wuhan, and prepared a note to the office of the Chinese Foreign Ministry in the city where the Iraqi students reside to allow them to leave the city, and the embassy opened hotlines available throughout the day for the Iraqi community, as well as internet groups to ensure direct communication.
(Source: Iraqi Foreign Ministry)
By John Lee.
China’s Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly announced a new drilling contract with Weatherford in Southern Iraq.
Chinese media reports that the deal is worth approximately $27 million, and follows another contract with Weatherford in Iraq agreed in December.
The oil field was not identified.
(Source: Eastmoney)
By John Lee.
China Petroleum Engineering & Construction Corp (CPECC) has reportedly won a $121-million contract to upgrade gas capture facilities at West Qurna-1 oilfield.
According to Reuters, the project is due to be completed within 27 months.
(Source: Reuters)
By John Lee.
China Petroleum Engineering & Construction Corp (CPECC) has reportedly won a $121-million contract to upgrade gas capture facilities at West Qurna-1 oilfield.
According to Reuters, the project is due to be completed within 27 months.
(Source: Reuters)
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
When Iraqi Prime Minister Adel Abdul Mahdi led a delegation to China in September, Baghdad and Beijing activated an “oil for reconstruction” and investment program. Under the arrangement, Chinese firms work in Iraq in exchange for 100,000 barrels per day.
Iraq has said it needs more than $88 billion to develop and mend its rickety infrastructure after three years of combating the Islamic State (IS).
Speaking to the press, Abdul Mahdi said that, including this new deal, about 20% of Iraq’s daily oil production is being exported to China.
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
When Iraqi Prime Minister Adel Abdul Mahdi led a delegation to China in September, Baghdad and Beijing activated an “oil for reconstruction” and investment program. Under the arrangement, Chinese firms work in Iraq in exchange for 100,000 barrels per day.
Iraq has said it needs more than $88 billion to develop and mend its rickety infrastructure after three years of combating the Islamic State (IS).
Speaking to the press, Abdul Mahdi said that, including this new deal, about 20% of Iraq’s daily oil production is being exported to China.
By John Lee.
Basra Oil Company (BOC) has signed two contracts for new drilling at the giant Majnoon oil field.
China’s Hilong Oil Service & Engineering Company is to drill 80 oil wells at a cost of $54 million, while the Iraqi Drilling Company (IDC) will drill 43 oil wells at a cost of $255 million.
Oil Minister Thamir al-Ghadhban said the contracts are part of BOC’s plan to increase the production at Majnoon to 400,000 barrels per day by 2022.
(Source: Iraqi Ministry of Oil)