The Khanaqin administration announced on Tuesday, April 2, the imminent beginning of exploration, development and production project in Iraq’s 'Khanah Oil' field, on the border with Iran (shared with Naft Shahr oilfield), by Chinese Geo-Jade Petroleum, reported the Shafaq News Agency.
According to the report, the project duration will be from 30 to 34 years and includes exploration, development, service, and production in Diyala governorate and encompasses the exploration area on the Iraqi-Iranian border, from Sindbad field in Basra governorate to the 'Khana Oil' field in Diyala governorate.
It is anticipated that these sites, in addition to other border locations, will yield a crude oil production of 250,000 barrels per day and gas production of one billion standard cubic feet.
The project also includes investment in associated and natural gas, aiming to supply the necessary gas quantities to meet the country's needs and bolster its hydrocarbon reserves.