ENERGY

Iraq reaches initial deal with China’s Zhenhua to develop East Baghdad oilfield

Zhenhua Oil’s help aims to increase production from East Baghdad oilfield to 40,000 barrels per day within five years. (File photo: AP)

Iraq reached an initial deal with China’s state-run Zhenhua Oil to develop the southern portion of the East Baghdad oil field, the oil ministry spokesman said on Sunday.

Iraq is seeking the help of Zhenhua Oil to increase production from East Baghdad oilfield to 40,000 barrels per day within five years as of the start of the development operations, Asim Jihad said in a statement.
 

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Last Update: Sunday, 24 December 2017 KSA 15:33 - GMT 12:33
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