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China National Petroleum Corp's drilling subsidiary, CNPC Daqing Drilling Engineering Co, has secured a $194 million contract to drill wells with two rigs in Iraq's Rumaila oilfield. It's the largest overseas contract for the subsidiary in five years. The move is in line with Iraq's plan to boost oil production capacity to 7 million barrels per day by 2027.

CNPC’s Daqing unit awarded $194mln drilling contract in Iraq

China National Petroleum Corp’s drilling subsidiary, CNPC Daqing Drilling Engineering Co, has secured a $194 million contract to drill wells with two rigs in Iraq’s Rumaila oilfield. It’s the largest overseas contract for the subsidiary in five years. The move is in line with Iraq’s plan to boost oil production capacity to 7 million barrels per day by 2027.

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