China’s CNPC confirmed on Friday that it was ready to start production in the third phase of the Iraqi Halfaya project in the third quarter of 2018.
“It aims to increase its annual crude oil production in the Middle East by 10.8 million tonnes from its major operations in Abu Dhabi, Iraq and Iran,” the company said.
“Our operations in the Middle East were pumping oil at a daily average of 4.07 million barrels in January,” it said, without giving further details.
“It is preparing to start production in Phase III of the Halafiyah project in Iraq in the third quarter of 2018, but has not set a production target.”
Once commercial production starts in the three projects, it will add an annual production capacity of 10.8 million tons per year or around 216,000 bpd.