PetroChina delivers first crude cargo from Iraq’s Halfaya project

18 December 2012 07:03  [Source: ICIS news]

SINGAPORE (ICIS)--Chinese state-owned oil and gas company PetroChina said on Tuesday that it has delivered its first crude-oil cargo from its oilfield project in Halfaya, Iraq, to China on 14 December.

The shipment contains 2m barrels of crude oil and was loaded from the Basrah port, the operator of the Halfaya project said.

The Halfaya project started commercial production on 16 June and is capable of producing 100,000 bbl/day of oil at present, which is higher than its initial targeted volume, PetroChina said, without specifying the figure.

The project is set to produce a targeted total output of 530,000 bbl/day eventually, the operator added.

PetroChina is expected to deliver its second cargo in the second half of January 2013.

It has been estimated that the Halfaya oilfield will contribute 4.6m barrels of oil to PetroChina by the end of this year, the producer said.

PetroChina holds a 37.5% controlling interest in the Halfaya project, while France’s Total and Malaysian state-run PETRONAS retain an 18.75% stake each. Iraq’s state-owned South Oil owns the remaining 25% share.

By: Fanny Zhang
+65 6780 4359

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