View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
November 22, 2021updated 27 Apr 2022 12:20pm

East Baghdad Heavy Oil Field, Iraq

By Carmen

East Baghdad is a producing heavy oil field located onshore Iraq and is operated by China ZhenHua Oil. The field is located in block East Baghdad Contract Area.

An expansion project is associated with the East Baghdad, namely East Baghdad Expansion. This project is currently in the feed stage, expected to start in 2023.

Field participation details

The field is owned by China ZhenHua Oil, Ministry of Oil and Iraq.


Production from East Baghdad

The East Baghdad heavy oil field recovered 43.07% of its total recoverable reserves, with peak production in 2002. The peak production was approximately 50 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2071.


Remaining recoverable reserves

The field is expected to recover 457.67 Mmboe, comprised of 457.67 Mmbbl of crude oil & condensate. East Baghdad heavy oil field reserves accounts 1.05% of total remaining reserves of producing heavy oil fields globally.


Contractors involved in the East Baghdad heavy oil field

Some of the key contractors involved in the East Baghdad project as follows.

Other Contractors: Iraqi Drilling and Zhongman Petroleum and Natural Gas Group

About China ZhenHua Oil

China ZhenHua Oil Co Ltd (ZhenHua Oil), a subsidiary of China North Industries Corporation is an oil company that offers exploration and production of oil and gas properties. The company’s services include oil and gas acquisitions, international oil trading, oil refining, oil industry investment and storage and transportation of crude oil and oil products. It has expertise in geologic reservoir research, key technology research and development, and fast evaluation of new projects. ZhenHua Oil markets interest rate derivatives, foreign exchange, and other financial derivatives through multiple platforms. The company partners with various oil producers to offer its services. ZhenHua Oil is headquartered in Beijing, China.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology