EBS Oilfield in Iraq

On May 23, 2018, witnessed by Chen Weiqing, ambassador of Chinese embassy in Iraq, and Jabbar al-Luaibi, minister of Iraqi Oil Ministry, the project contract was officially signed by and between Liu Yijiang, vice president of NORINCO and president of ZhenHua Oil, and Jalal, general manager of MDOC. The Project was obtained by ZhenHua Oil through exclusive negotiation with Iraqi government, which showed deep recognition of project development capacity of Zhenhua Oil by Iraqi Government. In June, 2018, Iraq handed over letter and key of temporary campsite which represented management right of EBS Project, marking official handover of the Project. With about 7.3 billion barrels of petroleum geological reserves and resources, EBS Oilfield in Iraq is one of large oilfields with large potentials in the middle of Iraq. Its total investment is nearly 1.5 billion dollars. Zhenhua Oil affiliated by NORINCO holds 90% of the equities. After project startup, productivity of 40,000 barrels/day will be achieved in five years.


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