Wednesday, July 18th, China’s National Petroleum Corporation held an inauguration ceremony for the Halfaya oil field in Iraq.
“The consortium started pumping in June, and during the last three weeks they were continuing to pump, but the official opening of the oilfield happened on Wednesday,” said Shahristani’s spokesman Faisal Abdullah.
The ceremony was attended by Iraq’s Deputy Prime Minister Hussein Al-Shahristani, the Oil Minister Abdul Kareem Luaibi and the Chinese ambassador Ni Jian. The Halfaya oil field is expected to produce 70,000 barrels of oil daily and 5 million tones annually. On Wednesday, the company started production of 100,000 barrels a day at Halfaya oil field.
China National Petroleum, which is the largest Chinese oil producing company, invested around $3.3 billion to develop oil projects in Iraq, and together with its subsidiary PetroChina plans to produce three large oil fields. CNPC and BP PLC are developing Rumaila, Iraq’s largest oil field located in the southern Basra province, where production is estimated at about 1.35 million barrels daily. CNPC is also responsible for the development of the Ahdab oil field in Wasit governorate in central Iraq, which started pumping 140,000 barrels daily.