[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
The Ministry of Oil confirmed, on Monday, its keenness to develop onshore and offshore exploration blocks to increase the country's oil and gas reserves.
The Undersecretary for Extraction Affairs, Karim Hattab, said, while attending on behalf of Oil Minister Ihsan Abdul-Jabbar Ismail, the signing ceremony for the preparation of a study on the offshore exploration patch between the Oil Exploration Company, CNOOC Middle East and Iraq, China: "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. This contract is an important step for the development of the offshore exploration patch in the Gulf, and it is the first experience of a joint exploration study in regional waters.
He added, "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 for cooperation, work and joint investment to develop the national oil industry."
And he continued, "The ministry affirms its full confidence in the national effort and in the company Cinoc Iraq and the Middle East to complete this study and reach positive results, which contribute to strengthening the oil reserves of oil wealth."
For his part, 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 areas 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.
He pointed 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."
In turn, 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, and the Iraqi side is keen on this project for close cooperation to achieve Positive and fruitful results and the deepening of 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, and we are proud today to announce the signing of the bilateral seismic survey services contract for the land 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 and Gas. Oil, Maysan Oil Company and all partners.
Added 10/17/2022 - 5:46 PM
Update 10/18/2022 - 12:40 PM
[You must be registered and logged in to see this link.]