Mansuriya gas field contract signed despite security, political challenges

KHANAQIN - Iraq has signed a new contract for the Mansuriya gas field, overcoming last-minute investor doubts about political and security challenges in Diyala province.

The Chinese firm Jereh is partnering with the Iraqi company PetroIraq to take a 49 percent stake in the project, which aims to produce 300 million standard cubic feet per day (scf/d) within five years, according to two senior Iraqi energy officials familiar with the terms. Iraq's state-run Midland Oil Company (MdOC) holds a 51 percent stake.

"The contract has been activated," said a third senior Iraqi energy official. "The contract focuses on the development of the field rather than exploration, given that the field is ready for development and production."