Iraq reaches initial deal with China’s Zhenhua to develop East Baghdad oilfield

Iraq reached an initial deal with China’s state-run Zhenhua Oil to develop the southern portion of the East Baghdad oil field.

Iraq reached an initial deal with China’s state-run Zhenhua Oil to develop the southern portion of the East Baghdad oil field, the oil ministry spokesman said on Sunday.

Flames burning off excess gas are seen at Nasiriya oilfield in Nasiriya province, southeast of Baghdad,Iraq. (Reuters File Photo)

Iraq is seeking the help of Zhenhua Oil to increase production from East Baghdad oilfield to 40,000 barrels per day within five years as of the start of the development operations, Asim Jihad said in a statement.