By John Lee.
Angola's Sonangol has signed a contract with the Iraqi Oil Exploration Company to carry out a 3D seismic survey of its Qayara [Qayarrah] oil field in Nineveh Province.
The Ministry's Undersecretary for Extraction Affairs, Bassem Mohammed Khudair, said:
"This contract aligns with our strategic vision for the oil sector by involving national companies in oil projects. We thank Sonangol for awarding this contract to the Iraq Oil Exploration Company and are confident it will be executed according to global standards within the specified timeframe."
Osama Raouf Hussein, Director General of the Oil Exploration Company, highlighted the contract's potential to yield significant hydrocarbon returns and create 350 local jobs. The project will cover 135 square kilometers and is expected to supply substantial crude oil to refineries.
Sonangol's Director, Jonathan Hall Royd, described the contract as a significant step towards regional development and job creation, reaffirming his company's commitment to the project.
(Source: Ministry of Oil)
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