A Chinese oil company has won the contract worth 26 million U.S dollars. The Chinese company Honghua Group issued a press statement that our company has won the contracts valued 26 million U.S dollars in order to drilling of two major sites in Iraq. The (Honghua Group) Chinese Global oil services further said that this contract would allow our company to provide drilling services in Iraq for two major sites with our latest drilling equipments.
The Iraqi government is working very hard to empower its economy and this contract would provide much better support in order to improve Iraqi crude oil export volume. The Chinese company didn’t disclose more details regarding the contract that the Iraqi authorities are signing the contract with this Chinese company. It is not finalized about the implementations of the process of drilling. It was not mentioned that these oil fields are within the Iraqi territory or these fields are in the Kurdistan region. An authentic source from the Iraqi oil ministry also confirmed that new contract has been signed between the Iraqi authorities and the Chinese global oil services. But there are some issues that are to be discussed prior to starting this drilling project and after finalizing all the concerning issues, the drilling project will be started.