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China’s CNPC Takes Over Iraq’s West Qurna 1 Oilfield from US Company

Photo from Google
Photo from Google

China National Petroleum Corporation (CNPC) has officially assumed control of Iraq’s West Qurna 1 oilfield, replacing U.S. oil giant ExxonMobil. The handover ceremony, held in Basra, witnessed the presence of Iraqi officials, Chinese diplomats, and representatives from CNPC, Basra Oil Company, and ExxonMobil. The move signifies a significant shift in the oil and gas landscape, as CNPC takes charge, with Iraqi authorities expressing confidence in the corporation’s capabilities and commitment to completing the project on time.

Photo from Google

Photo from Google

Transition of Leadership in Basra

Iraqi Deputy Oil Minister Bassim Mohammed Khudair conveyed his congratulations to CNPC during the handover ceremony. He expressed unwavering confidence in CNPC’s strategies and vision, anticipating a successful completion of the West Qurna 1 oilfield project within the specified timeframe.

Ji Gang, Counselor of the Chinese Consulate General in Basra, emphasized expectations for collaborative efforts between China and Iraq to make the West Qurna 1 oilfield project a standout example of energy cooperation. The transition marks a new chapter in bilateral relations, fostering mutual benefit and shared successes.

Chen Mingzhuo, General Manager of the project, assured a seamless handover and orderly transition. CNPC is committed to the principles of mutual benefit, win-win cooperation, and shared benefits. The corporation’s approach aligns with extensive consultation and joint contributions, highlighting their dedication to the success of Iraq’s significant oil endeavor.

READ ALSO: US Veto Of United Nations Resolution On Gaza Ceasefire Deeply Disappoints China

West Qurna 1 – A Pivotal Oilfield

Situated approximately 50 km northwest of Basra, West Qurna 1 stands as one of Iraq’s largest oilfields, boasting an estimated annual crude oil output surpassing 25 million tonnes. The transition in leadership holds strategic importance for Iraq’s oil sector, setting the stage for continued growth and collaboration in the energy industry.

As CNPC takes the reins, the focus shifts towards the collaborative efforts that will shape the future of West Qurna 1. With an emphasis on mutual benefits and shared successes, the partnership aims to contribute significantly to Iraq’s energy landscape, fostering positive diplomatic and economic ties between China and Iraq.

READ ALSO: FBI Worries China Might Use Smart Computers For Spying

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