CPECC
CPECC
China Petroleum Engineering & Construction (CPECC) submitted a bid for ADNOC’s $15 billion Hail and Ghasha offshore sour gas field development project in February, specifically for Package 2, worth $2 billion.
Rumors have surfaced since last year that Chinese producers are looking to acquire ExxonMobil’s 32.7% stake in Iraq’s West Qurna 1 field, CPECC is already involved with a $121 million contract for the field which it won in November 2019. CPECC is upgrading the facilities used to extract gas during crude oil production at the West Qurna-1 oil field, which produces 480,000 barrels of crude oil per day.
The firm also won a $203.5 contract to build a sour gas treatment facility at the Majnoon oil field, also in Iraq. It will have the capacity to treat 4.39 mcu of sour gas per day.
