It is responsible for overseeing development in recently auctioned fields in the centre of the country.
It is a state-owned company managed by the Iraqi Ministry of Oil.
CNOOC has won a bid to explore an oil block, Block-7, located in Diwaniyah province, Iraq.
This marks a significant shift in Iraq's oil industry as it moves away from technical service contracts and adopts a profit-sharing model with international partners.
[2] In October 2024, Pakistan Petroleum Limited (PPL) has reached a settlement with Iraq's Midland Oil Company regarding their expired exploration and production contract for Block-8 in Iraq.