Chinese consortium in talks over Nassiriya deal

Iraq's Oil Ministry starts direct negotiations with PetroChina and CNOOC for a long-delayed, massive project to build a 150,000 bpd refinery and develop the Nassiriya field.
Chinese consortium in talks over Nassiriya deal
Flares burn at the Nassiriya oil field on May 7, 2012. (STAFF/Iraq Oil Report)

NASSIRIYA - Iraq has entered direct negotiations with a Chinese consortium for the combined Nassiriya refinery and oil field development project.

PetroChina and the China National Offshore Oil Corp. (CNOOC), which have a large and well established presence in Iraq, are offering to build a $9 billion refinery, according to two senior Iraqi oil officials involved with the negotiations. The ministry has rejected that proposal as too costly.

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