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Zhongman (ZPEC)

China's Zhongman wins $27m Iraqi Drilling Contract

By John Lee.

China’s Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly announced a new drilling contract with Weatherford in Southern Iraq.

Chinese media reports that the deal is worth approximately $27 million, and follows another contract with Weatherford in Iraq agreed in December.

The oil field was not identified.

(Source: Eastmoney)

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Zhongman (ZPEC)

Zhongman starts Drilling in Diyala Province

By John Lee.

China's Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly started drilling its first oil well in Iraq's eastern province of Diyala on Tuesday.

The mayor of Qazaniya told Xinhua that it is more than fifty years since an oil well was drilled in Diyala province.

Mazin al-Khuzaie added that the oil companies operating in Block 8 will contribute $4 million to a program to finance service projects in Qazaniya. The field is being developed by Pakistan Petroleum (PPL).

(Source: Xinhua)

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Block 12, Salman well (Rosneft)

Rosneft Discovers Oil at Block 12

By John Lee.

Bashneft, a subsidiary of Russia's Rosneft, has found oil at its Salman-1 exploratory well at Block 12 in Iraq.

In a statement, the company said that an exploration well was successfully drilled to depth 4,277 metres; oil was found, "which gives grounds for expecting the discovery of industrial reserves".

Rosneft said it views this discovery as an important milestone in the development of exploration and production projects abroad.

China-based company Zhongman Petroleum and Natural Gas Group (ZPEC) was previously announced as the general drilling contractor.

(Source: Rosneft)

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Rumaila (Zhongman, ZPEC)

China's ZPEC Wins Contract at Rumaila Oilfield

By John Lee.

China's Zhongman Petroleum and Natural Gas Group (ZPEC) and BP Iraq have signed an integrated drilling service contract for 15 wells at Iraq's Rumaila oilfield

The contract amount is worth approximately $60 million.

It is understood that the project was publicly tendered in November 2017. According to a statement from the company, several well-known oil service companies, including the four major oil service companies, participated in the bidding.

(Source: ZPEC)

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Rosneft Starts Drilling at Block 12

Russia's Rosneft group has started drilling its first exploration well at Block 12 in Iraq.

The Salman-1 well will be drilled to the measured depth of 4,245 m through Kurra Chine target horizon to be followed by further testing of five prospective targets. The Company plans to complete drilling in July 2017.

Company of Rosneft group acts as the operator of the exploration and development of Block 12. China-based company Zhongman Petroleum and Natural Gas Group (ZPEC) is the general drilling contractor .

Iraq has huge proved and undeveloped oil resources. Exploration in Iraq is an important step in implementing the Rosneft strategy to expand competences in the area of hydrocarbon exploration and production outside of Russia.

The prospective oil-bearing Block 12 is located in the Najaf and Muthanna provinces, approximately 80 km to the southwest of the city of Samawa and 130 km to the west of the city of Nasriya. The block is a part of the Western Desert, an unexplored region having the biggest oil potential in Iraq. It has an area of 7,680 sq km. Exploration works on Block 12 are considered "low risk" due to its prospects.

(Source: Rosneft)

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Zhongman Petroleum and Natural Gas Group (ZPEC)

Chinese Firm wins $526m Drilling Deal

By John Lee.

Iraq has approved a $526.6-million (614 billion Iraqi dinar) drilling deal with China's Zhongman Petroleum and Natural Gas Group (ZPEC) for the West Qurna II oilfield, according to Reuters.

Under the 28-month contract, ZPEC will drill 66 production oil wells at the Lukoil-operated field.

Current production capacity at West Qurna II is over 400,000 barrels per day, but actual output is less than 350,000 bpd.

(Source: Reuters)

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Chinese Firm Wins Badra Contract

By John Lee.

Russia's Gazprom Neft has picked a contractor to drill six production wells in the Badra field in Iraq which it operates. China’s Zhongman Petroleum and Natural Gas Group Co., Ltd (ZPEC) has won the tender.

The contract includes engineering, procurement and drilling of wells. Two rigs will start drilling in March 2014.

Two wells are currently undergoing tests in Badra and a third will be launched in early 2014 under earlier signed contracts. The infrastructure required to make the field operational in early 2014 will include the Central Collection Point with a total capacity of 170,000 barrels a day.

The first 60,000 barrels a day unit is due to be launched within months. A pipeline to the Garraf field, shortly to be completed, will deliver oil to Iraq’s long-distance oil transportation system.

(Source: Gazprom Neft)

(Picture: Drilling at Badra oil field)

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