China National Offshore Oil Corporation (CNOOC)'s subsidiary in Iraq gained a daily crude output of more than 300,000 buckets in the Missan Oil Fields on Nov 16, a daily output peak.
The breakthrough in crude output is of great significance in boosting China and Iraq's co-construction of the Belt and Road in the energy field and promoting development of Iraq's petroleum industry.
Located in Southeast Iraq, the large-scale Missan Oil Fields have proven reserves of 100 million metric tons. They neighbor Iran and are about 350 kilometers from Baghdad, the capital of Iraq. In 2010, CNOOC joined hands with a Turkish company to sign a 20-year technical service contract at the Missan Oil Fields with Iraq. By the end of this October, more than one billion buckets of oil had been produced from the fields.
At present, CNOOC has energy cooperation with more than 40 countries and regions on six continents and has built several overseas oil and gas production bases with overseas proven equivalent oil and gas reserves of more than two billion buckets.
(Executive editor: Wang Ruoting)
