The Ministry of Oil is Aiming by this Contract “which was Ratified by the Cabinet Recently” to Develop the Field and Produce 40 Thousand Barrels/ Day
The ministry of oil declared the signature of the service contract with Jinhua Company to develop East Baghdad oil field – the southern part.
Mr. Assim Jihad the spokesman of the ministry said that the ministry will sign the final form of the contract at Wednesday the 23rd of May with the company.
Mr. Jihad said that the ministry of oil is aiming by this contract “which was ratified by the cabinet recently” to develop the field and produce 40 thousand barrels/ day during the next 5 years. He said also that the company is going to build a residential oil city includes residential units and complete services.
Mr. Jihad said also that the contract requires the company to rely heavily on the national employment. And confirmed on the necessity of producing the crude oil from this field to provide the oil and flare gas for the power stations and the other facilities & projects.
Source: Ministry of Oil
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