Simon Watkins, OilPrice.com: China Just Got Handed The Oil Deal Of A Lifetime
China and Russia are sewing up whatever oil and gas fields and accompanying infrastructure that they can in Iran and Iraq, as Iraq tries to markedly up the pace of development on the fields it shares with Iran. Iraq only wants the U.S. for the Common Seawater Supply Project (CSSP) because ExxonMobil is the only firm that can do it properly and within a reasonable timeframe. ExxonMobil’s participation, though, is far from guaranteed.
Of all the key shared fields - Azadegan (Iran side)/Majnoon (Iraq side), Azar/Badra, Yadavaran/Sinbad, and Dehloran/Abu Ghurab, Naft Shahr/Khorramshahr – the first of these has been a priority for Iran since it was severely flooded in March. It is this field that was the focus of the announcement last week that two major new drilling contracts have been signed: one with China’s Hilong Oil Service & Engineering Company to drill 80 wells at a cost of US$54 million and the other with the Iraq Drilling Company to drill 43 wells at a cost of US$255 million.
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WNU Editor: Both Russia and China in the past year have been trying to sew up every possible oil/gas energy deal in Iraq and Iran, and they have been successful in doing so. But the big winner has been China in Iraq . But this is all contingent on the Middle East being a peaceful place to do business, which if history is any indication, will be difficult to do.
4 comments:
You get all the problems in the region NO CHARGE.
Will it facilitate/justify China putting "protection" into both countries to protect its "interests"? Imagine if the Chinese were to establish a port on Iran's coast for the purpose of servicing/refueling it's ships and of course shipping oil back home.
So basically china just fucked up again. We all know this will blow up in their faces :D such wisdom they have lol
Of course we spill the blood and treasure and China swoops in for the big enchilada..lol
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