Oil Storage Contract Awarded to CPP

By Patrick M Schmidt.

The Ministry of Oil has approved a contract worth $607 million (708 billion Iraqi dinar) with China Petroleum Pipeline (CPP).

The company will now be able to begin construction on an oil storage facility to accommodate future development projects at the Nassiriya oilfield.

The field currently produces 40,000 barrels of oil per day, but is planned to reach an output of 300,000 barrels per day by project completion.

(Source: Reuters)

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