Iraq grants two major contracts in Rumaila field

According to a statement reported for " Shafaq News " that “ the Cabinet agreed to grant a contract worth 535.8 million dollars to British Petrofac for oil services company to provide management services to giant project of Rumaila , which pumps more than a third of all Iraq's oil production , of more than three million barrels per day .

The construction Chinese and engineering Company ( CNPC ) won also services contract worth 425 million dollars to carry out the engineering , procurement and construction of Rumaila power plant.

BP British Group is developing - Rumaila largest oil field in Iraq, which contains reserves of 17 billion barrels – with the participation of China National Petroleum Corporation ( CNPC ) .

Baghdad has signed a series of contracts with foreign oil companies aimed at increasing the production capacity of oil to nine million barrels per day by 2020, up from more than three million barrels per day currently.