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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    China is preparing for a $ 203.5 million deal to develop the giant Majnoon field for 25 years

    Rocky
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    • Post n°1

    China is preparing for a $ 203.5 million deal to develop the giant Majnoon field for 25 years Empty China is preparing for a $ 203.5 million deal to develop the giant Majnoon field for 25 years

    Post by Rocky Sun 05 Apr 2020, 3:26 pm


    China is preparing for a $ 203.5 million deal to develop the giant Majnoon field for 25 years

    18:01 - 05/04/2020



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    Information / translation ...
    A report by (Oil Price) website revealed that China is preparing for a deal worth $ 203.5 million through the Petroleum Engineering and Construction Company (CPECC) to develop the giant Majnoon field in southern [You must be registered and logged in to see this link.] for a period of 25 years, as the contract is to be officially valid after two years from the date of signing.
    The report, which was translated by Information Agency, stated that according to the terms of the deal with Iraqi officials, this contract will allow China to recover more profits on average annually and less investments in advance, as the Chinese will choose between the average price of a barrel for 18 months from the prices of crude or the past six months in addition to Moreover, China will receive a discount of at least 10 percent for at least five years on the value of the oil extracted.
    He added that “the giant Majnoon field is located about 60 km to the northeast of the main southern export terminal in Basra, and it is one of the largest oil fields in the world, with an estimated reserve of about 38 billion barrels of oil.”
    He continued, “By the end of the first quarter of 2014, the field was producing an average of 210,000 barrels per day, according to figures from Shell and Baghdad, and the first shipment of crude oil was signed to Shell Trading Company on April 8 of that year, despite the floods That hit the fields in early 2019, the targets for the long-term original production designed for the consortium led by Shell remain: The first production target is 175 thousand barrels per day, already reached and exceeded, to reach the site's highest production of 1.8 million barrels per day in the years 2030 “.
    He pointed out that the company "had been awarded a contract worth 121 million dollars in the first West Qurna field near the main Basra oil center in [You must be registered and logged in to see this link.] . Ended / 25 z


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