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[size=30]Iraq and China agree on oil field east of Baghdad[/size]
25/12/2017 10:13 | Number of readings:
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Trend Press / Baghdad
The Iraqi Oil Ministry announced that it will sign an initial agreement with the Chinese oil company "Genghua" to develop an oil field near Baghdad.
A spokesman for the Ministry of Oil Assem Jihad in a press statement received "Trend Press" a copy of it on Monday, "The goal is to reach production in the southern part of the field east of Baghdad to" 40 thousand barrels within 5 years from the date of entry into force of the contract. "
He pointed out that "the resources of the field will be used to feed the refinery and nearby electrical stations."
Under the agreement, the Chinese state-run company "Genhua" will build a workers' housing city, including service facilities including a nursery, a school and a medical clinic.
The contract also requires the Chinese company to rely on the Iraqi labor force by 50 percent later to become 80 percent. "
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