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First Chinese company to start full-scale production in new Iraqi fields by 2024
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Iraq•Iraq Oil Ministry•ZPEC•Eastern Field•East Baghdad Oil Field•Baghdad•Salahuddin•Iraqi Oil Minister•UEG•Basra Province•Zhenhua•Najaf•Anbar•Geo Jade•Wasit Province
Resolution / Starting Odds
ZPEC • 25%
UEG • 25%
Zhenhua • 25%
Geo Jade • 25%
Operational updates from the companies and Iraq Oil Ministry
Story
Chinese Companies Secure Bids for Iraq Oil Fields, Boosting Domestic Gas Production
May 12, 2024, 08:55 AM
Chinese companies have secured multiple development rights for oil and gas fields across various provinces in Iraq, as announced by the Iraq Oil Ministry. ZPEC won bids for the Eastern Field and the northern extensions of the East Baghdad Oil Field in Baghdad and Salahuddin provinces, as well as for the Mid-Euphrates fields, according to the Iraqi Oil Minister. UEG was awarded the development rights for the Al-Faw Oil and Gas Field in Basra Province, while Zhenhua secured the Qornain Oil and Gas Field in Najaf and Anbar provinces. Additionally, Geo Jade won the bid for the Zurbatiya Oil and Gas Field in Wasit Province. These developments are part of a broader initiative by Iraq to enhance its domestic gas production through hydrocarbon exploration.
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