China exports 1st oil shipment from Iraq’s Rumeila Oil Field

BAGHDAD / IraqiNews.com: The National Chinese Petroleum Company (NCPC) has announced on its Internet site on Monday that it had carried the first crude oil shipment from southern Iraq ’s Rumeila Oil Field to China , being part of its joint project with Iraq .   “A giant oil tanker has carried 2 million barrels of crude oil from Rumeila Oil Field, heading for China on May 28, from southern Iraq ’s Basra Port ,” the Chinese Company reported.   The National Chinese Petroleum Company (NCPC) had signed an agreement with for exporting Iraqi crude oil with the Iraqi government on April 12 last.   The NCPC and the giant British Petroleum (BP) had signed a 15-billion US dollar contract with the Iraqi government in November, 2009, to develop the Rumeila Oil Field, the largest oil field in Iraq .   British Petroleum possesses 38% of the contract and the NCPC – 37%, whilst Iraq ’s state-owned Southern Iraq Oil Company owns the remaining 25% of the contract.   The Chinese company reported that the completion of the Rumeila Oil Field shall raise its productive capacity to 100,000 barrels per day (bpd).   SKH (IT)   886