Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: More than 70 martyrs in Israeli attacks on Gaza since dawn.
Death toll from latest Israeli strikes on Gaza rises to 30
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City
Al Mayadeen's correspondent: An Israeli airstrike targets the vicinity of Al-Shifa Medical Complex, west of Gaza City
Al-Qassam: We will postpone the handover of the body of the Israeli captive we found, which was scheduled for today, due to the occupation's violations
Al Mayadeen's correspondent in Gaza: Israeli occupation aircraft launch airstrikes on the city of Rafah in the southern Gaza Strip
Netanyahu's office: At the end of the security consultations, the prime minister instructed the military to launch massive military strikes on the Gaza Strip immediately
President Aoun: We urge the activation of the monitoring committee, the cessation of hostilities, ongoing Israeli violations, attacks

Chinese co. win 5 contracts to explore Iraqi oil, gas fields: Reuters

  • By Al Mayadeen English
  • Source: Reuters
  • 11 May 2024 23:58
  • 1 Shares
3 Min Read

European, Chinese, Arab, and Iraqi groups are part of more than 20 companies qualified for the licensing round for 29 oil and gas fields in Iraq.

  • x
  • Smoke and steam rise from a coal processing plant in Hejin in central China's Shanxi Province on Nov. 28, 2019. (AP)
    Smoke and steam rise from a coal processing plant in Hejin in central China's Shanxi Province on Nov. 28, 2019 (AP)

Chinese companies now have contracts to explore five Iraqi oil and gas fields in the licensing round whose main goal is to increase gas production for domestic use, Reuters reported today. 

Two of the 29 projects on offer in the three-day licensing round located in central, southern, and western Iraq were also won by an Iraqi company.

European, Chinese, Arab, and Iraqi groups are part of more than 20 companies qualified for the licensing round, however, it was evident that no major US oil companies took part. 

The Chinese and Iraqi winners 

The Chungman Oil and Natural Gas Group won the development of East Baghdad Field, Northern Extensions in the capital, and the Middle Euphrates Field between the southern provinces of Najaf and Karbala, the Iraqi Ministry of Oil said.

In addition, the Chinese United Energy group won the investment in al-Faw field in Basra, south of Iraq and the Zhenhua Company won the development of the al-Qarnain field on the border between Iraq and Saudi Arabia. 

The Chinese company Geo-Jade also won the development of the Zurbatiyah field in Wasit Governorate.

Related News

UK officials warn of importing Chinese cars, citing 'espionage' fears

Chinese companies eye investment in Afghanistan: Embassy

The Iraqi Khaled Abdul Rahim Group secured two investments, the Dima field in the Maysan Governate in the east of the country and the Sasan and Alan fields in the Nineveh Governate in southwestern Iraq, the ministry announced. 

20 other projects will be up for bidding on May 12 and 13. 

Oil production and self-sufficiency on gas 

Advisor to the Iraqi Prime Minister for Energy Economics Farah Al-Amiri said that the government's goal is that these new projects would increase oil production to six million barrels per day by 2030 from about 5 million at the moment.

The Iraqi government is also aiming to become self-sufficient in natural gas through these projects and stop imports with plans to stop gas flaring completely by 2030, Reuters reported.

Speaking with Reuters, al-Amiri said that as Iraq's goal is currently self-sufficiency, it is too early to address gas exports. 

160+ bn barrels set by Iraq as oil reserves target: Iraqi Oil Minister

Iraqi Oil Minister Hayyan Abdul Ghani said today during the launch of new licensing rounds for 29 oil and gas fields that "The ministry has put forward 29 promising projects today."

"We hope to announce an increase of Iraq's proven oil reserves to more than 160 billion barrels", he added.

The winning companies will be supported and aided by the government, Abdul Ghani said.

Fields and exploration blocs in 12 provinces and an offshore bloc, the first to be delved into in Iraqi water territories in the Gulf, are part of these new rounds. 

Iraq is also aiming for these blocs to cause an increase in natural gas production as the Prime Minister's media office said in a statement that "Iraq anticipates deriving more than 3,459 million standard cubic feet of gas per day (98 million cubic meters) and over one million barrels of oil per day from these licensing rounds."

  • Chinese companies
  • Iraq
  • iraq oil
  • China
  • iraq gas

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Members of the al-Qassam Brigades, the military wing of Hamas, and Egyptian workers search for the bodies of hostages in a tunnel discovered during searches in Hamad City, Khan Younis, in the southern Gaza Strip, on Tuesday, Oct. 28, 2025 (AP)
Politics

'Israel' obstructing Gaza body recovery, creating false claims: Hamas

Lebanese Prime Minister Nawwaf Salam talks to US Deputy Special Envoy to the Middle East Morgan Ortagus at the Grand Serail in Beirut, Lebanon, October 28, 2025 (NNA)
Politics

Salam conveys to Ortagus goals behind any possible negotiations

Writers boycott NYT, demand justice as Gaza media ban faces court
Politics

300+ writers boycott NYT Opinion, cite persistent anti-Palestine bias

Settlers attack West Bank olive harvesters, Injure 3 Palestinians
Politics

Settlers attack West Bank olive harvesters, injure 3 Palestinians

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS