China’s investment in Iraq’s joint oil field with Iran

According to Energy Press, Delir Hassan Saya, the governor of Khanqin (in Diyala province of Iraq) announced the transfer of the right to explore, develop and extract oil and gas in the joint oil field with Iran to a large Chinese company.

Saya announced that one of the Chinese companies will soon start the project of exploration, development and production of oil and gas in the “Oil House” area, 80% of which is located in the Khanaqin area.

He pointed out that this project is considered a vital and important project in this region because most of its workforce are residents of Khanaqin city and according to the agreement signed by the Chinese company and the Ministry of Oil, this project will continue for 30 to 34 years.

Governor Khanaqin said that in this project, adherence to environmental standards has been emphasized to preserve the health of citizens.

The implementation of this project has been entrusted to the Chinese company “Geojit”.

“Naft Khane” field is one of the joint fields with Iran, which was discovered in 1919 and its extraction started in 1924.