By John Lee.
Iraq's Oil Ministry has signed a contract with China's Geo-Jade Petroleum for a 2D and 3D seismic survey of the Naft Khana oil block in Diyala Province.
According to a statement from the Ministry, the signing ceremony took place at the Ministry's headquarters on Sunday.
The Ministry's Extraction Affairs Deputy, Bassem Mohammed Khudair, said the contract, part of the fifth licensing round, aligns with the strategic vision to involve national oil companies in significant projects. The contract aims to boost production capacity, improve working conditions, reduce gas imports, create jobs, and increase state revenue.
Osama Raouf Hussein, General Manager of the Iraq Oil Exploration Company, said the project will be executed by the national workforce using advanced equipment. The project involves a 770 km 2D seismic survey and a 700 km² 3D seismic survey, promising significant oil and gas potential.
Mohammed Yassin, General Manager of Middle Oil Company [Midland Oil Company], noted that the Naft Khana block, which contains four explored fields, will undergo seismic surveys to determine its oil and gas reserves. This effort is expected to significantly increase local production and provide fuel for power generation stations, reducing reliance on imported fuel.
(Source: Ministry of Oil)
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