Iraq’s al-Ahdab oil field starts production at around 40K barrels per day, official says

An Iraqi oil official says China’s National Petroleum Corp. has begun pumping oil from al-Ahdab oil field in central Iraq

.

Oil Ministry spokesman Assem Jihad says production started Saturday at about 40,000 barrels per day and will be ramped up to 60,000 barrels per day over the next week.

The $3 billion, 23-year CNPC deal, which was signed in 2008, was the first oil agreement reached between Iraq’s central government and an international oil company after the 2003 U.S.-led invasion that ousted Saddam Hussein.

The 1 billion barrel field is near the city of Kut, about 100 miles (160 kilometers) southeast of Baghdad.

Since 2003, Iraq has awarded 15 oil and gas deals — the first major investments in the country’s energy industry in more than three decades.

You might also like

Comments are closed.