The Al-Ahdab oil field project in Iraq's Wassit province, a cooperation between China's Oasis Petroleum and Iraq's Northern Oil Company, officially commenced operations on the 11th.
The Al-Ahdab oil field was discovered in 1979, located in central-southern Iraq, approximately 160 kilometers from the capital Baghdad, with an estimated oil reserve of about 1 billion barrels. The Al-Ahdab oil field project is the first international oil cooperation project in Iraq after the war, with a Chinese investment of approximately 3 billion US dollars, a contract period of 23 years, and may be extended based on actual conditions. It is expected that within 3 years, crude oil daily production will reach 25,000 barrels, and within 6 years, it will have the capacity to produce 115,000 barrels per day.