PetroChina acquires ExxonMobil’s partial Interests in WQ1 TSC

PetroChina Co. Ltd.

PetroChina Co. Ltd. has acquired, through its wholly owned subsidiary, 25% interest in a technical service contract (TSC) for West Qurna-1 (WQ1) in Iraq, held by a subsidiary of ExxonMobil.

The WQ1 oil field is located 50 kilometers to the northwest of Basra and close to the north of the Rumaila field, where PetroChina is operating in Iraq.

The entry into this WQ1 project will enable PetroChina to achieve synergies with its other projects in Iraq and to develop a larger and stronger presence in the upstream operations in the Middle East.

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