Project Profile
Value: US$700 million
Start-up Year: 2011
Location: Ahdab- South Central Iraq
In 1997 the China National Petroleum Corporation (CNPC) had signed a US$1.2 billion contract with Saddam\'s regime to develop Iraq\'s Ahdab oilfield. Beijing committed US$660 million to the effort. But work never got off the ground, due to international economic sanctions against Saddam, and the project was frozen.
Output reached 140,000 bpd in November 2012, from 170 wells.
Remuneration is estimated at US$6 per barrel.
Oil is transported through a 200-km, 36 inch diameter pipeline designed to transport 120,000 barrels of oil per day in line with the first phase production target.
Al-Ahdab was discovered in 1979 and is estimated to have about 1 billion bbl of reserves. The field also holds 750 billion standard cubic feet (scf) of associated gas reserves, however no plans have been announced for their commercial development, in which case the gas would likely be flared or reinjected.
Operators:
China National Petroleum Corp (CNPC): Operator with 75% interest
North Oil Company (NOC): 25% interest
Contractor:
China Petroleum Engineering and Construction Company (CPECC): EPC contract
Honeywell: Develop process control systems and fire and gas detection systems
China Oil HBP Science & Technology Corporation(HBP):CPF Oil Gas Treatment Equipment Project