China's CPECC Wins $547.9M Iraqi Oilfield Contract

Source: Reuters 7/24/2013, Location: Middle East

China Petroleum Engineering & Construction Corporation (CPECC) has won a $547.95 million service contract to develop Iraq's Halfaya oilfield, Iraq's cabinet said.

CPECC, which is affiliated to China National Petroleum Corporation (CNPC), will handle engineering, procurement, construction and commissioning work at the oilfield, which is forecast to produce 535,000 barrels of oil per day (bpd) in 2017, Iraq's oil ministry has said.

Iraq signed a contract in 2010 to develop Halfaya with CNPC, France's Total, and Malaysian state company Petronas for a fee of $1.40 per barrel. CNPC has a 37.5 percent interest in the consortium.

State-owned China National Petroleum Corp said last year the first phase of the Halfaya field had started operating and had a production capacity of 100,000 barrels per day.

Export bottlenecks and long-neglected energy infrastructure are the main hurdles to the OPEC member country keeping exports steady, forcing it to review its final production target of 12 million bpd.

For more information about related Opportunities and Key Players visit Iraq Oil and Gas Projects


Indonesia >>  6/20/2022 - JGC Holdings Corporation has announced that Group subsidiary PT. JGC Indonesia has been awarded by Jadestone Energy (Lemang) Pte., Ltd., an Indonesian...
United States >>  6/14/2022 - Cal Solar Inc. has announced the formal launch of its EPC services business, which will serve solar and energy development firms by leveraging its tea...

United States >>  6/14/2022 - Audubon Engineering Company LLC (AEC) has been awarded a large engineering, procurement, and construction (EPC) project to assist a prominent energy i...
Brazil >>  6/10/2022 - Toyo Engineering Corporation, together with its Brazilian affiliate TOYO-SETAL Empreendimentos Ltda. (TSE*1), has been awarded a contract by Petróleo ...

Qatar >>  6/8/2022 - QatarEnergy and Chevron Phillips Chemical Company (CPChem) have announced awarding the early site works contract for the Ras Laffan Petrochemical Proj...
Saudi Arabia >>  5/30/2022 - JGC Holdings Corporation (Representative Director, Chairman and CEO Masayuki Sato) announced today that JGC Corporation (Representative Director and...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.