A Chinese state-run company, ZhenHua Oil, is to develop an oil field near Baghdad under an accord with Iraq, the oil ministry said Sunday.
A ministry spokesman told AFP the target was to produce 40,000 barrels per day from the southern sector of the East Baghdad field within five years of implementation of the accord between ZhenHua and Iraq's Midland Oil Company.
The output will be used for the capital's Dora refinery and nearby electricity plants.
Under the deal, the Chinese firm is to build housing for the workers, a nursery school and a clinic. Iraqis will initially account for 50 percent of the workforce, a figure which is to rise to 80 percent.
Closures, maintenance meant Norway produced less oil and gas
The closure of a Barents Sea oil field on safety concerns in part meant daily production rate for November was lower than expected, Norway's government said.
The Norwegian Petroleum Directorate said Wednesday that the preliminary daily rate for November was 1.8 million barrels of oil, natural gas liquids and condensate, an ultra-light petroleum product. That's a decline of 102,000 bpd f … read more
