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Chinese Oil Company Begins Work in Iraq
The Chinese National Petroleum Company (CNPC) started work on a $3 billion oil project in Iraq on Friday, the first foreign firm to begin such work since dictator Saddam Hussein nationalised the industry decades ago.
A CNPC delegation formally opened the al-Ahdab oi field project in Iraq’s eastern province of Wasit, officials there said.
“It’s a significant event which signals the first contribution of a foreign company in developing Iraq’s oil fields for three decades,” Wasit governor Latif al-Tarfa told Reuters by telephone.
“The Chinese engineers have located the spot where they will construct a field work site, and all the company’s equipment will reach the southern port of Basra soon.”
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Filed under: China, China's Economy
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