CNOOC Ltd.’s subsidiary, CNOOC Africa Holding Ltd., has signed an Exploration, Development, and Production Contract (EDPC) with the state-owned Midland Oil Company (Md.O.C) for Block 7 in the Republic of Iraq.
The contract covers Block 7, which spans 6,300 square kilometers and is primarily located in the Diwaniyah Province in central Iraq. Local media report that the block is situated in the oil-rich Mesopotamia tectonic zone, near the Nasiriya and Garraf oil fields.
According to the terms of the contract, the exploration period’s initial stage will last for three years. CNOOC Africa Holding Ltd. will act as the operator and holds a 100% interest in the block.
This award is part of the contracts granted during Iraq’s oil ministry’s most recent licensing round for oil fields and exploration blocks, which took place in May.
Story via Oil & Gas Journal
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