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China has 18% of the fields in the two new rounds, and 11 countries share the remainder
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Baghdad today - Baghdad
Today, Saturday (May 11, 2024), economic expert Nabil Al-Marsoumi described the Chinese companies’ acquisition of the largest number of fields and exploration blocks within the complementary fifth round and sixth round of oil licensing as “hegemony.”
Al-Marsoumi said in a clarification reported to “Baghdad Today” that, “There is clear Chinese dominance over Iraqi oil fields, as Chinese companies won five fields within the fifth and sixth licensing rounds.”
He added, "The Zhongman Group won the development of the East Baghdad field - the northern extensions, in addition to the Middle Euphrates field, which extends between the Najaf and Karbala governorates, and the Chinese United Energy Group won the investment in the Al-Faw field in Basra, while the Chinese Zhenhua Company won the development of the Al-Qarnain field on the border between Iraq and Saudi Arabia." .
He explained: "The Chinese company Geo-Jade also won the development of the Zurbatiya field in Wasit Governorate, and thus China has become the dominant and main operator in 14 oil and gas fields in Iraq."
The number of oil blocks and fields in the fifth and sixth complementary rounds that Iraq launched today, Saturday, is 29 blocks, which means that China alone acquired approximately 18% of the total blocks offered in these two rounds, while 11 other countries shared the remaining percentage.
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