CNPC Starts Operations At Iraq's Halfaya Oilfield
|Tuesday, June 19, 2012
State-owned China National Petroleum Corp (CNPC) said Tuesday that the first phase of Iraq's Halfaya oilfield has started operating at a production capacity of 100,000 barrels per day (bopd).
Operation works at the Halfaya oilfield began 15 months ahead of schedule.
CNPC has started working on the second phase of the Halfaya oilfield, and the company is targeting a production output of 200,000 bopd.
"The project has provided employment opportunities for more than 2,000 local people. Many of the employees are either working aboard or in Baghdad," CNPC said.
CNPC has a 37.5-percent stake in the oilfield, while France's Total and Malaysia's Petroliam Nasional Bhd (Petronas), each have 18.75 percent stake. Iraq's state-owned Missan Oil Company holds the remaining 25 percent stake.
Halfaya, an oil field located east of Amarah, Iraq, has proven crude oil reserves of more than 4.1 billion barrels.
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