IRAQ

The much-delayed 12.5mn b/d, $10bn Common Seawater reinjection project is essential if Iraq is to have any chance of raising output to anywhere near its 9mn b/d target. But cash-strapped Baghdad will have to lean on deep-pocketed external finance.

Iraq’s state-owned South Oil Company (SOC) is in talks with China’s CNPC for financing the much-delayed $10bn Common Seawater Supply Facility (CSSF), MEES understands. The Iraqis have approached the Chinese state-owned company,...