CNPC Completes First Phase of Al-Ahdab Field

Reuters reports that the China National Petroleum Corp (CNPC), the first foreign oil company to sign an oil service contract in Iraq after former president Saddam Hussein was toppled, said on Monday said that it completed construction of the first phase of the Al-Ahdab oilfield.

The parent of PetroChina Co Ltd said it started work on the Al-Ahdab oilfield in March 2009 after successfully renegotiating an old development deal, and hoped to pump 110,000-130,000 barrels per day (bpd) from the field, which had estimated reserves of 1 billion barrels.

Completion of the first phase, with a capacity of 60,000 bpd, was ahead of schedule, marking major progress in building Middle East oil and gas projects, reported the China Petroleum Daily, CNPC’s in-house newspaper.

The field was the first new oil capacity building project in 20 years in Iraq, the report said.

(Source: Reuters)

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