Jereh to develop Iraq’s Mansuriya gasfield

BAGHDAD, November 4, 2024 – Chinese oilfield services company Jereh has signed a development and production contract with state-run Midland Oil Company of Iraq to jointly develop the Mansuriya gasfield, Jereh announced on Thursday.

The agreement marks Jereh’s first venture as a developer in a major oil and gas project in the Middle East.

The Mansuriya gasfield is Iraq’s second-largest. Estimated to hold 127.4 bcm (4.5 tcf) of natural gas, it is expected to play a pivotal role in the country’s plans to increase domestic production and reduce reliance on imports.

“The Mansuriya project is crucial for Iraq’s energy independence. To this end, we will leverage our strengths in oil and gas field development, drilling and completion services, surface engineering, high-end equipment manufacturing and international project management to ensure reliable execution of the project,” said Li Weibin, Jereh Group’s executive vice-president.

Under the terms of the contract, the Iraqi Ministry of Oil will repurchase all produced natural gas, liquefied petroleum gas and condensate products once commercial production begins, ensuring Jereh’s investment and cost recovery.

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