Iraq Mega Projects 2011: Chinese Company China Petroleum & Engineering Corp. (CPECC) Awarded $174 Million Contract

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) July 4, 2011 -- The Chinese oil firm China Petroleum and Engineering Corp. (CPECC) have been awarded a $174 million contract to build three crude processors, and has begun work on the contraction on the first production network of southern Iraq’s Halfaya Oil Filed.

The new plants will raise the production of Halfaya Oil Field by 100,000 barrels per day, which currently produces approximately 12,000 bpd and plans to produce 20,000 bpd by the end of 2011 and a further 90,000 bpd by the first quarter of 2012 said Head of Mission Oil Company Ail Maarij.

Iraq Mega Projects 2011 taking place from 18‐20 October 2011 at the Ritz Carlton, Istanbul, Turkey will look in‐depth at case studies showcasing the challenges, progress and solutions faced with the developments of Iraq’s oilfields. Senior Iraqi Professionals and high level industry executives have given great support for the conference this year which brings together operators, Iraqi representatives, local governor’s, service providers and experts that together will develop Iraq.

Key officials supporting Iraq Mega Projects 2011 include H.E. Thamir Al‐Ghadhban Chairman of the Advisory Commission to the Iraqi Prime Minister of Iraq, H.E Adnan Al‐Jahabi Chairman of the Parliamentary Energy Committee and Natiq Al‐Bayati of the Advisory Commission.

Key industry support has already been confirmed for Iraq Mega Projects 2011; sponsors to date include: Caterpillar, Emerson Process Management, Olive Group, ExxonMobil, Techint, OIEC, Oxy, Statoil and Total.

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