The ministry of oil has signed the final form of the contract with Xinhua Chinese Company to develop the East- Baghdad oil field (the southern part).
Mr. Jabbar Ali Al-Luiebi the minister of oil said that the signature of the contract has an economic significance for the capital Baghdad because it is the first project in the capital. The development of the field will also raise the production of the midland oil company. The project will also provide social services, in addition to the construction of a residential complex with (2000) residential units.
Mr. Chin Wi Ching the Chinese Ambassador was thankful to the ministry of oil for the continuous support and facilitations to the Chinese companies which are working with the Iraqi oil sector.
Mr. Abd Al-Mahdi Al-Ameedi the director general of the petroleum contracts and licensing directorate said that the contract is one of the service contracts which was modified by the concerned authorities of the parliament, the ministry of oil and the specialized officials.
It is worthy to say that the Cabinet ratified recently on the contract to develop the field.