According to the contract, China will receive a service charge of 6 U.S. dollars per barrel of oil produced at al-Ahdab, which will be gradually reduced to 3 dollars per barrel.
Author: Ksenia Kochneva
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China Started A New Project in Iraq
China started joint development of the Iraqi al-Ahdab oil field, which would see a 110,000 barrels per day production in the coming six years.
A Chinese National Petroleum Company (CNPC) delegation on Wednesday formally opened the al-Ahdab oil field project in Iraq's eastern province of Wasit, aiming to help the war-torn country to quickly boost its oil production as promised.
"The al-Ahdab oil field project will become a model for the Sino-Iraqi cooperation in the future, as well as for cooperation between the two peoples," said Chinese ambassador Chang Yi, adding that the project will serve for the welfare of local Iraqi people and regional development.
Iraqi Oil Minister Hussein al-Shahristani said that the project served as a locomotive for local economy, and contributes to "both Iraqi national revenues as well as local peoples' welfare". He envisioned more cooperation to come between the two sides, given such project works well.
According to the contract, China will receive a service charge of 6 U.S. dollars per barrel of oil produced at al-Ahdab, which will be gradually reduced to 3 dollars per barrel.
Author: Ksenia Kochneva
According to the contract, China will receive a service charge of 6 U.S. dollars per barrel of oil produced at al-Ahdab, which will be gradually reduced to 3 dollars per barrel.
Author: Ksenia Kochneva
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