Signing of Onshore Joint Study Agreement between OEC and CNOOC

Source: 10/17/2022, Location: Middle East

The Ministry Undersecretary for Upstream Affairs affirmed the ministry keenness to develop onshore & offshore exploration blocks to maximize oil & gas reserves. This came as he attended, on behalf of the Minister of Oil Ihsan Abdul-Jabbar Ismail, the signing ceremony of the Onshore Joint Study Agreement between Iraqi Oil Exploration Company and the Chinese CNOOC.

The Ministry Undersecretary for Upstream Affairs, today we are celebrating the signing of Arab Gulf Block Joint Study Agreement for the onshore part, between OEC & CNOOC. This agreement is an important step to develop the exploration block in the Arab Gulf and the first joint exploration study conducted in the territorial waters.

The Undersecretary added the ministry is interested in developing and investing the joint borderline fields, the onshore and offshore fields and the fields in the territorial waters, in spite of all challenges, affirming that the ministry has attracted the international companies to cooperate with them for developing national oil industry. He continued that the ministry trust in the national efforts & in CNOOC to conduct this study and reaching positive results participated in maximizing oil reserves.

The Director General of Oil Exploration Company, Ali Jassim, said the OEC represents one of the national efforts arms and it has participated in achieving important steps in the exploration sector through its seismic crews through Iraq, including western deserts in Anbar, Talaafar in Ninwa, Al-Muthana, Missan, Basra, and other provinces, noting the continued support by the Ministry of Oil for seismic crews, which used the modern rigs and equipment and advanced technologies to maximize the oil and gas reserves.

The General Manager of CNOOC Iraq limited, Xie Wensheng, said the AGB JSA signed by CNOOC and OEC is the starting point for building a new type of cooperative relationship between CNOOC and Iraq. The Chinese and Iraqi teams of the AGB project will always maintain a close cooperation to fulfil research goals, achieve fruitful results, and further deepen the exploration of blocks, noting that cooperation opportunities will help in building a new situation of win-win China-Iraq oil and gas cooperation relationship. XIe Wendheng added that through the joint efforts of both parties, fruitful results have been achieved, and now they feel privilege to announce CNOOC Iraq and OEC hereby sign the Agreement for Onshore 2D Seismic Data Acquisition and Processing Services. He continued that CNOOC is willing to cope with the complicated situations together with MoO, MOC, all partners and friends.

It is noteworthy tha the Arabian Gulf Block Joint Research Agreement signed in 2019 involves exploration operations both onshore and offshore, with a land area of 120 square kilometers and an offshore area of 530 square kilometers.

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