The consortium of Chinese, Malaysian and French companies working on the Halfaya oil field, 35 km east of Amara, in Maysan [Missan] province, have completed drilling four oil wells.
Ali Altarfi, the media department of Missan Oil Company, told Aswat al-Iraq that, "the plan is to drill 300 wells in this gigantic oil field within 5 years, according to the agreement signed with the Ministry of Oil."
The contract stipulates that production should reach 535 thousand barrels per day (bpd), which is five times higher than the local production of the field, in addition to provision of gas products to neighboring power stations.
"The reserves of this oil field are expected to reach 15 billion barrels," Altarfi added.
The companies that won the bid to develop this field are CNPC, Total, and Petronas.
(Source: Aswat al-Iraq)