Petronas, the Malaysian state oil firm, has agreed to train 60 Iraqi oil engineers to help it develop the Gharaf oilfield.
The engineers will attend an intensive 6-month course in Malaysia and will then be sent back home to supervise the company’s operations, according to a report from Azzaman.
Petronas and Japan Petroleum Exploration Co (Japex) won the 20-year service contract to develop the 900-million barrel field. They have agreed to invest about $7 billion.
Petronas has a 60 percent stake in the venture, and Japex the rest.
Petronas and Japex will get $1.49 per barrel from Gharaf the development of which could churn out 230,000 barrels a day.
Iraq's oil ministry announced on Friday that it would begin drilling for oil in the Gharraf oil fields by the end of the year.
(Source: Azzaman)
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