The Chinese National Petroleum Corp. is a step closer to getting its third Iraq oil contract finalized after a ceremony at the Iraqi Oil Ministry headquarters where officials initialed a draft contract.
The field was awarded during a Dec. 11 and 12 oilfield projects auction intended to lead to a massive increase in oil production. The contract must now be sent to the Council of Ministers for approval.
Halfaya was awarded to a CNPC led consortium, with Petronas and Total each having a 2...
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