China Man Petroleum (603619.SH) issued an announcement that the company obtained Iraq on October 30, 2023...
Zhitong Finance App News, Zhongman Petroleum (603619.SH) announced that the company obtained the qualification for the development and operation of oil and gas fields in Iraq on October 30, 2023. On May 11, 2024, the company participated in the fifth (+) round and sixth round of oil and gas block tenders of the Iraqi Ministry of Petroleum. The company successfully won the bid to obtain development rights for the East Baghdad Field Northern Extension block (also known as the North Extension E.Baghdad block, “EBN block”) and the Middle Euphrates block (also known as the Middle Furat block, “MF block”) in Iraq. The EBN block is located in Baghdad and Salahuddin provinces in central Iraq. The block area is 231 square kilometers. The MF block is located in Najaf and Karbala provinces in central Iraq. The block area is 1,073 square kilometers.
After winning the bid, the company will carry out the next contract negotiations with the Iraqi Ministry of Petroleum as soon as possible, taking into account the relevant policies of Iraq's oil and gas field development and the company's actual situation. In the future, the company will rely on an integrated business layout, give full play to its technical and management advantages, achieve efficient development and utilization of oil and gas blocks in Iraq, and inject new impetus into the company's high-quality and sustainable development.