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Iraq awards China firm US$548 million contract for oilfield development

Industry

China Petroleum Engineering & Construction Corporation (CPECC) has announced that it has been awarded a US$548mn service contract to further develop Iraq’s onshore Halfaya oilfield

CPECC, affiliated to China National Petroleum Corporation (CNPC), will handle engineering, procurement, construction and commissioning work at the oilfield, which is expected to produce 535,000 bpd by 2017, Iraq’s Federal Oil Ministry said.

Iraq had, in 2010, signed a contract with CNPC, France’s Total, and Malaysia’s Petronas to develop the field, Reuters reported.

In 2012, CNPC said that the first phase of the Halfaya oilfield had started operating and had a production capacity of 100,000 barrels per day.

 

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Production begins at Halfaya oil field in Iraq

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