China’s CNOOC has inked a deal for exploration at an oil field in central Iraq, the company said today. The deposit, Block 7, will be managed by a fully owned subsidiary of the Chinese company, CNOOC Africa Holding, with the first phase of the work planned to take three years, Reuters reported. The deal follows CNOOC’s winning bid for Block 7 following a tender that the Iraqi government carried out earlier this year, where Chinese energy majors were the big winners, winning a total of four bids for nine oil and gas deposits. Chinese…
