China Shares $317m Pipeline Contract

By John Lee.

The Wall Street Journal reports that the China Petroleum Pipeline Engineering Corp. (CPPE) and Iraq’s State Company for Oil Projects (SCOP) have secured a contract worth up to $317 million to build an oil pipeline from the Missan oil fields to the export terminals in southern Iraq.

Over a period of 14 months the companies will build the 272-kilometer pipeline, with SCOP building 60 kilometers and CPPE building the rest.

The pipeline will link the newly developed Halfaya, Buzurkan, Fuka and Abu Ghareb fields with the export terminals.

PetroChina, a subsidiary of China National Petroleum Corp (CNPC) is the operator of Halfaya oil field along with Total and Petronas. CNOOC, the Hong Kong-listed unit of China National Offshore Oil Corp, is developing three other fields in Missan [Maysan] — Buzurkan, Fuka and Abu Ghareb — along with state-run Turkish Petroleum Corporation (TPAO).

(Source: WSJ)

(Picture: CPPE)

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