Iraq reaches initial deal with Zhenhua to develop Baghdad oilfield

BAGHDAD - 24 December 2017: Iraq reached an initial deal with China’s state-run Zhenhua Oil to develop the southern portion of the East Baghdad oil field, the oil ministry spokesman said on Sunday.

Iraq is seeking the help of Zhenhua Oil to increase production from East Baghdad oilfield to 40,000 barrels per day within five years as of the start of the development operations, Asim Jihad said in a statement.