(Yicai Global) Nov. 21 -- China Oil HBP Science & Technology Co. [SHE:002554] has emerged as the winner of the bid for the 'Iraq Halfaya Oilfield Service Contract' from 2018 to 2021 with a total value of USD28 million.
The company received a confirmation letter from PetroChina International Iraq FZE Iraq Branch on Nov.19, it said yesterday. China Oil HBP is an oilfield technology and equipment system solution supplier.
The company participated in oil and gas processing equipment projects of Phase 1, Phase 2 and Phase 3 construction of Halfaya Oilfield. Winning the latest bid will enable the company to further expand market in the Middle East, while positively affecting operating performance of the company from 2018 to 2021, said a statement from the firm.
The daily output of Halfaya Oilfield Phase 1 is 100,000 barrels, and the major undertakings of Phase 2, with a daily output of 200,000 barrels, have been completed, the statement said. Once the Phase 3, which is under planning and construction, is put into operation, the annual output capacity of Halfaya Oilfield is expected to reach 20 million tons, it said.
"PetroChina International Iraq FZE Iraq Branch is a body registered in the Republic of Iraq to conduct the Petroleum Operations on behalf of a consortium of PetroChina International Iraq FZE, Petronas Carigali Iraq Holding B.V., Total E&P Iraq and South Oil Company of the Iraqi Ministry of Oil," says the company's official website.