Iraq has signed deals with two Chinese companies and UAE-based Crescent Petroleum for the development of six oil and gas fields. This is an effort by the country to cut gas imports by improving domestic production of oil and gas. Under the 20-year contract, Crescent will develop the Gilabat-Qumar and Khashim fields in Diyala. The fields are expected to initially produce 250 million standard cubic feet per day of natural gas. Crescent Petroleum exploration and production executive director Abdulla Al Qadi said, “Gas and oil supplies from these operations will help improve services and local economic development for the people of Iraq.” This comes in light of Iraq signing two other contracts with China’s Geo-Jade for the exploration and development rights to the Huwaiza oilfield in the south, and the Naft Khana, northeast of Baghdad.
- Iraq Partners With UAE And Chinese Firms To Develop Six Oil And Gas Fields