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Baghdad (IraqiNews.com) – Iraq launched a licensing round on Saturday for 29 oil and gas projects to develop huge gas reserves to help provide electricity to the country and attract foreign investments worth billions of dollars.
The exploration regions are spread throughout 12 governorates in western, southern, and central Iraq. An Arabian Gulf marine exploration area is included for the first time.
The Iraqi Ministry of Oil said that the Zhongman Petroleum and Natural Gas Group (ZPEC) won the development of East Baghdad Field in addition to the Middle Euphrates oil and gas field, which extends between the southern governorates of Najaf and Karbala, according to Reuters.
China’s Zhenhua Oil won a bid to develop the Al-Qarnain field on the border between Iraq and Saudi Arabia, while the Chinese-based United Energy Group was awarded a contract to develop the Al-Faw field in the southern Iraqi governorate of Basra.
Geo-Jade Petroleum, a Chinese oil exploration and production company, won a bid to develop Iraq’s Zurbatiya field in Wasit governorate in eastern Iraq.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, said that the fifth supplementary round includes many projects remaining from the fifth round, while the sixth round includes 14 projects.
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The post Chinese firms to develop oil and gas fields in Iraq appeared first on Energy News Beat.
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