According to Japan's Kyodo news agency reported that on the 30th held in the Iraqi capital of Baghdad Iraq eight large-scale oil and gas field development project bids in the international oil giant, "British Petroleum (BP)" and "China National Petroleum Corporation (CNPC)" business of the Commonwealth won the first, located in the southern part of the bid Rumaila oil fields. This is the first time in 40 years Iraq's official oil field development and opening up to foreign investment.
Reported that the bid including the northern part of Rumaila and Kirkuk oil fields, such as the development of six oil fields have been completed, accounting for about National's proven crude oil reserves (1150 billion barrels) of about one-third; and two have yet to develop the gas field. The bidding of the United States oil company Exxon Mobil, British Petroleum and so on, Japan's Nippon Oil, Petroleum Resources Development Corporation, INPEX Corporation, Mitsubishi has also been eligible to participate in bidding.
Iraq has proved the world's third largest crude oil reserves, oil production in 2008 for the Nissan about 240 million barrels per day. To ensure that the post-war reconstruction funds, the Government of Iraq has been to increase crude oil production, but the magnitude of the aging equipment, which began to try and have a solid capital and advanced technology of foreign companies to cooperate.
Iraq hopes that the oil field development in 2013 will increase the daily output to 400 million barrels per day. If the scheme is to achieve, may help to stabilize the price of crude oil in international markets.
But oil development is also accompanied by a number of risks: the local law and order situation is very unstable, relevant laws and regulations are not sound and Iraq remain opposed to foreign investment and opening up the views of oil field development.
Jul. 1, 2009
