Chinese firm to develop oil field near Iraqi capital | world news | Hindustan Times
Today in New Delhi, India
Feb 18, 2018-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Chinese firm to develop oil field near Iraqi capital

The output will be used for the capital’s Dora refinery and nearby electricity plants.

world Updated: Dec 24, 2017 22:52 IST
AFP
An oil field is seen in Kirkuk, Iraq.
An oil field is seen in Kirkuk, Iraq. (Reuters)

A Chinese state-run company, ZhenHua Oil, is to develop an oil field near Baghdad under an accord with Iraq, the oil ministry said Sunday.

A ministry spokesman told AFP the target was to produce 40,000 barrels per day from the southern sector of the East Baghdad field within five years of implementation of the accord between ZhenHua and Iraq’s Midland Oil Company.

The output will be used for the capital’s Dora refinery and nearby electricity plants.

Under the deal, the Chinese firm is to build housing for the workers, a nursery school and a clinic. Iraqis will initially account for 50 percent of the workforce, a figure which is to rise to 80 percent.