(MENAFN- Iraq Business News) By John Lee.
Iraq's Minister of Oil, Hayan Abdul-Ghani (pictured), visited the east baghdad oil field in Nahrawan and Suwayrah regions, expressing a commitment to increase crude oil production and invest in associated gas.
The field currently produces 30,000 barrels per day, with a peak production goal of 40,000 barrels per day under the 2018 contract with the Chinese company ZhenHua Oil .
In a statement, the Ministry of Oil said it aims to increase production to over 80,000 barrels per day, and dry gas to 50 million cubic meters.
The development of this field will provide crude oil and dry gas to power stations and the Dora refinery.
The field's oil reserves are over 39 billion barrels, and plans are underway to extend a pipeline to transport crude oil to the Zubaidiya power station.
EBS Petroleum Company Limited is the entity registered in the Republic of Iraq to conduct the petroleum operations on behalf of China ZhenHua Oil Co., Ltd.
(Source: Ministry of Oil)The post chinese firm to double production at east baghdad oil field first appeared on iraq business news .
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.