IraqiNews
August 12, 2023
Synopsis
China's Daqing Drilling Engineering Co, a subsidiary of CNPC, has won a $194 million contract to develop Iraq's Rumaila oilfield. Daqing will use two rigs to drill wells in the field near the Kuwaiti border. This is CNPC's largest international deal in the past five years. Daqing previously worked in the Rumaila field, having drilled 21 wells there in 2010. Rumaila is a major global oil and gas reserve, ranking fifth in production worldwide.
Baghdad (IraqiNews.com) – A subsidiary of China National Petroleum Corp (CNPC), Daqing Drilling Engineering Co, has been awarded the contract for the development of the Rumaila oilfield in Iraq.
The Rumaila oilfield in southern Iraq, near to the Kuwaiti border, will see Daqing drill wells with two rigs as part of a $194 million overall deal.
According to CNPC, it was the biggest international deal that the Chinese company had in the previous five years.
Daqing has past experience in the Rumaila field, having been awarded a contract to drill 21 wells in the lucrative oil field by the oil giant bp and the Iraqi government-owned South Oil in 2010.
According to Offshore Technology, Rumaila is one of the largest and most lucrative petroleum reserves in the globe and ranks fifth globally in terms of oil and gas production.
Source: www.iraqinews.com
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