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Oil Signed A Contract With China's CNOOC To Study The Onshore Part Of The Offshore Area In The Gulf

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Oil Signed A Contract With China's CNOOC To Study The Onshore Part Of The Offshore Area In The Gulf

10/17/2022  5
Earth News/
The Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, confirmed today, Monday, the ministry's keenness to develop land and sea exploratory patches to increase the country's oil and gas reserves.

This came during his presence on behalf of Oil Minister Ihsan Abdul-Jabbar Ismail, the signing ceremony to prepare a study on the offshore exploration area between the Oil Exploration Company and the Middle East Cinoc and Iraq China.  In a statement received by Earth News, Hattab said,

“Today we celebrate together the signing of a joint study contract for the land part of the offshore patch in the Gulf, between the Oil Exploration Company, one of the leading national companies in this field, and Cinoc Iraq and the Middle East, as

this contract is an important step for developing The marine exploratory patch in the Gulf, which is the first joint exploratory study experience in the territorial waters.  The agent added that

"the ministry is keen to develop and invest in joint border fields, land or sea and in regional waters, despite the various challenges," stressing that

"the ministry has worked to attract international companies to cooperate, work and joint investment to develop the national oil industry."  And he added,

"The ministry affirms its full confidence in the national effort and in the company SINOOC Iraq and the Middle East to complete this study and reach positive results, which contribute to strengthening the oil reserves of oil wealth."

The Director General of the Oil Exploration Company, Ali Jassim, said,

“The Oil Exploration Company, which represents one of the arms of the national effort, was able to achieve important steps in the field of exploration through the spread of seismic teams in many regions of Iraq and conducting surveys for vast areas of our dear country, including the Western Desert. In Anbar Governorate, Tal Afar in Nineveh Governorate, Muthanna, Maysan, Basra, and others.”  Pointing to

"the ministry's continuous support for the work of seismic teams, which work with the latest devices, equipment, mechanisms and advanced technology in this field, believing in maximizing the guaranteed reserves of oil and gas."

The General Manager of Cinoc Middle East and Iraq, "Vincent Shih," said that

"the contract to conduct a joint study of the Arabian Gulf area, which was signed, represents a start to build cooperative relations of a new type between Iraq and Cinoc.

The Iraqi side in this project is keen on close cooperation to achieve positive results and deepen exploratory operations,” noting that

“this cooperative relationship will contribute to the development of the oil industry in Iraq, and create a new situation for cooperation in the field of oil and gas between China and Iraq in a way that achieves the common interests of both parties.”  Shih added,

“Futureful results have been achieved thanks to the joint efforts made by both parties.

Today, we are proud to announce the signing of a bilateral seismic survey services contract for the onshore part of the patch with the Oil Exploration Company, and that

CNOC announces its readiness to deal with all difficult situations in cooperation. With the Ministry of Oil, Maysan Oil Company and all partners.

It is noteworthy that the joint research agreement for the Gulf region was signed in 2019 and included conducting exploratory operations for the land and sea parts, where the land part is 120 km² and the marine part is 530 km².

This contract comes as a prelude to the comprehensive development operations of the onshore and offshore part of the offshore patch, which the Ministry aims to maximize oil and gas reserves.

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