According to media reports in Baghdad, Europe's No. 2 oil company British Petroleum (BP) and the Chinese oil giant China National Petroleum Corporation (CNPC), today in Baghdad with Iraq's state-owned Southern Oil Company (SOC) signed a technical services contract to expand is located in the vicinity of Basra in southern Iraq Rumaila field's oil output. British BP and China's CNPC is held in Iraq in June this year, the post-war development of the first round of bidding to get a contract Rumaila oil fields, and after 4 months of negotiations, the two sides finally signed on November 3 Rumaila oil fields in the development a final agreement.
By BP (owned 38% shares), China Petroleum (which holds 37% stake) and the Iraqi government on behalf of the Iraqi State Oil Marketing Organization (SOMO / has a 25% stake), an international consortium has agreed to Rumaila field's daily oil for more than two-fold increase in production to reach 3 million barrels of daily output of oil around that time, Iraq's Rumaila oil fields will become the world's first two large-scale production fields.
Nov. 5, 2009
