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Iraq Signs Contract to Develop East-Baghdad Oil Field

Source: www.gulfoilandgas.com 5/24/2018, Location: Middle East

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By the presence of the Chinese Ambassador to Baghdad… The ministry of oil signed the final form of the contract with Xinhua Chinese Company to develop the East- Baghdad oil field (the southern part).

The minister of oil confirmed on the keeping of the ministry of oil to make the achievements to develop the oil & gas sector and raise the production levels.

Mr. Jabbar Ali Al-Luiebi the minister of oil said that the signature of the contract has an economic significance for the capital Baghdad because it is the first project in the capital. The development of the field will also raise the production of the midland oil company. The project will also provide social services. In addition to the construction of a residential complex with (2000) residential units.

Mr. Chin Wi Ching the Chinese Ambassador was thankful to the ministry of oil for the continuous support and facilitations to the Chinese companies which are working with the Iraqi oil sector. He also shown the desire of the Chinese Companies to strengthen the bilateral cooperation.

The representative of Xinhua Company said that his company will develop the field after the signature of the contract in order to reach the expected production.

Mr. Abd Al-Mahdi Al-Ameedi the director general of the petroleum contracts and licensing directorate said that the contract is significant because it is the first oil project in Baghdad. It will also provide jobs for the citizens of the capital. And the contract is one of the service contracts which was modified by the concerned authorities of the parliament, the ministry of oil and the specialized officials.

The spokesman of the ministry of oil said that the contract signature is a new achievement for the ministry to raise the national production of Baghdad and provide the crude oil for the midland oil company to refine the oil products and maintain the necessary fuel for the power stations and the other industrial facilities.

On the sidelines of the celebration of the signature… the minister of oil discussed with the Chinese ambassador about the development of the bilateral relations in the oil & gas sectors and to open new horizons of cooperation between ministry and the Chinese companies whom are working in Iraq.

It is worthy to say that the Cabinet ratified recently on the contract to develop the field.

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