Houston1099 Posted July 24, 2013 Report Share Posted July 24, 2013 China's CPECC wins $547.9 mln Iraqi oilfield contract inShare Share this Email Print Analysis & Opinion Asia’s pain unevenly spread as China slows Related Topics Financials » BAGHDAD, July 24 | Wed Jul 24, 2013 7:15am EDT (Reuters) - China Petroleum Engineering &Construction Corporation (CPECC) has won a $547.95 million service contract to develop Iraq's Halfaya oilfield, Iraq's cabinet said on Wednesday. CPECC, which is affiliated to China National Petroleum Corporation (CNPC), will handle engineering, procurement, construction and commissioning work at the oilfield, which is forecast to produce 535,000 barrels of oil per day (bpd) in 2017, Iraq's oil ministry has said. Iraq signed a contract in 2010 to develop Halfaya with CNPC, France's Total, and Malaysian state company Petronas for a fee of $1.40 per barrel. CNPC has a 37.5 percent interest in the consortium. State-owned China National Petroleum Corp said last year the first phase of the Halfaya field had started operating and had a production capacity of 100,000 barrels per day. Export bottlenecks and long-neglected energy infrastructure are the main hurdles to the OPEC member country keeping exports steady, forcing it to review its final production target of 12 million bpd. (Reporting by Ahmed Rasheed; Editing by Louise Heavens) FINANCIALS http://www.reuters.com/article/2013/07/24/iraq-energy-halfaya-idUSL6N0FU1XE20130724?feedType=RSS&feedName=financialsSector&rpc=43 1 Link to comment Share on other sites More sharing options...
Boozer Posted July 24, 2013 Report Share Posted July 24, 2013 Now can we get an RV, made in china Link to comment Share on other sites More sharing options...
zigmeister Posted July 24, 2013 Report Share Posted July 24, 2013 I didn't know Iraq had a contest. Link to comment Share on other sites More sharing options...
George Hayduke Posted July 27, 2013 Report Share Posted July 27, 2013 CPECC, affiliated to China National Petroleum Corporation has won a $547.95 million service contract to develop Iraq’s Halfaya oilfield. CPECC, which is affiliated to China National Petroleum Corporation (CNPC), will handle engineering, procurement, construction and commissioning work at the oilfield. It is forecast to produce 535,000 barrels of oil per day (bpd) by 2017. Iraq signed a contract in 2010 to develop Halfaya with CNPC, Total, and Petronas for a fee of $1.40 per barrel. http://www.rebuildingiraq.net/cpecc-awarded-epc-contract-in-the-halfaya-oilfield-worth-547-million/?goback=%2Egmr_137554%2Egde_137554_member_260669309 Link to comment Share on other sites More sharing options...
hitechal Posted July 28, 2013 Report Share Posted July 28, 2013 (edited) I can't believe they can sign multi million dollar contracts without a HCL in place. And this is dated back to 2010!! Edited July 28, 2013 by hitechal Link to comment Share on other sites More sharing options...
sandfly Posted July 28, 2013 Report Share Posted July 28, 2013 THANKS Link to comment Share on other sites More sharing options...
calkid11 Posted July 28, 2013 Report Share Posted July 28, 2013 THANKS FOR THE POST , A GOOD READ... Link to comment Share on other sites More sharing options...
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