Iraq’s state-owned Missan Oil Company (MOC) has held meetings with China’s Geo-Jade to discuss development of the Huwaiza block located in Missan province. Geo-Jade signed a Development and Production Contract (DPC) for the license in February after being awarded the block through Iraq’s 2018 Fifth Licensing Round (MEES, 24 February). In a 1 June statement, MOC said talks were “in preparation for the implementation of the signed contract.”
Geo-Jade has pledged to spend “a minimum amount of $60mn” over three years according to its contract and must submit a Preliminary Development Plan (PDP) within six months of the February ratification. (CONTINUED - 196 WORDS)