Middle East Economic Survey

VOL. LI

No 46

17-Nov-2008

IRAQ

CNPC Signs Al-Ahdab Field Development Contract

Chinas state-owned CNPC and Iraqs North Oil Company on 3 November signed the $3bn deal to develop the Ahdab field, in what is the first Iraqi upstream deal since the US-led invasion. The 23-year contract calls for the CNPC-led consortium Chinese press sources cite Zhenhua Oil as a partner in the venture to produce 25,000 b/d within three years, raising production capacity to 115,000 b/d seven...