CNOOC signs contract for Block 7 in Iraq

A CNOOC subsidiary entered into the exploration, development, and production contract with state-owned Midland Oil Co.

Oct. 30, 2024

CNOOC Ltd. subsidiary CNOOC Africa Holding Ltd. has entered into the exploration, development, and production contract (EDPC) with state-owned Midland Oil Co. (Md.O.C) for Block 7 in the Republic of Iraq.

The contract was signed for the 6,300-sq-km Block 7, which primarily lies in Province Diwaniyah in central Iraq. According to local media, the block is centered in the oil-prone Mesopotamia tectonic zone and close to Nasiriya and Garraf fields.

According to the terms of the contract, the duration of the exploration period’s first stage will be 3 years.

CNOOC Africa Holding Ltd. will serve as operator with 100% interest.

The award is part of contracts awarded during the Iraq's oil ministry’s most recent licensing round of oil fields and exploration blocks held in May.