PetroChina Consortium Seals Iraqi Oil Deal
Within the framework of Iraq's second petroleum bidding round organized by the Iraqi Ministry of Oil on December 12th, 2009, a PetroChina-led consortium signed on January 27, 2010 a 20-year Development and Production Service Contract with Missan Oil Company for the development of the Halfaya oil field.
Total E&P Iraq holds a 18.75% interest in the consortium, alongside the operator PetroChina (37.5%) and partners Petronas Carigali Sdn. Bhd. (18.75%) and the State Partner South Oil Company (25%).
The Halfaya oil field is located in the Missan governorate, 35 kilometers southeast of Amara city, and spreads across 30 kilometers long and 10 kilometers wide. The consortium intends to increase the current oil field production from 3,100 barrels of oil per day to 535,000 barrels of oil per day.
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