Maysan oil fields

The Maysan oil fields (also known as the Missan Oil Fields) are a complex of fields located around 175 kilometres (km) North of Basra city and include Abu Ghirab, Jabal Fauqi (Fakka) and Buzurgan oil fields.

The Maysan province shares a border with Iran and in December 2009 a group of Iranian border guards crossed the border and occupied one of the wells at the Fakka field, raising an Iranian flag. The occupation lasted for less than 48 hours, however the guards remained in the area for another month. According to Iraq Oil Report, this raised an anti-Iranian sentiment borne from war in the 1980s, complicating further the efforts to demarcate the border and thus the fields that cross it.

Contract Negotiations
The Maysan contract area was put up for bidding in Iraq's first petroleum licensing round, but the field only attracted one bid and no contract was awarded.

However in May 2010 Iraq signed a final deal with China's CNOOC and Turkish state-run TPAO to develop the Maysan oilfield complex. CNOOC's original partner for developing the field, Sinochem, pulled out of the deal when CNOOC decided to reconsider and accept the Iraqi government's proposed remuneration fee of $2.30 per barrel of oil produced. TPAO then joined the venture to fill the gap. CNOOC and TPAO set a production plateau target for the field at 450,000 barrels per day (bpd). CNOOC holds a 63.75% stake in the venture, while TPAO holds 11.25% and the Iraq Drilling Company holds a 25% stake.

Production and Export
As of 2010, the Maysan fields were producing at a level of 90,000 bpd.

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