On February 6, 2026, a $225 million oil field resumption service contract was officially signed, awakening the long dormant Naft Hana oil field in Iraq from its ruins. This oil field, which has been dormant since 2003 due to war and insufficient investment, is about to usher in a new era.

Cross border layout of Chinese enterprises

On February 6, 2026, China Petroleum Technology Service Enterprise Huayou Huibopu Technology Co., Ltd. and project operator NK Petroleum Company officially signed a service contract for the resumption of production in the Nafthana Oilfield. According to the agreement, Huibopu will provide integrated services for the entire industry chain of the oil field, covering engineering design, equipment procurement, on-site construction, and subsequent operation and maintenance. The contract value reaches 225 million US dollars, marking a crucial step for Chinese companies to deepen their layout in the global oil and gas service field. NK Oil Company is a wholly-owned subsidiary of Intercontinental Oil and Gas, a A-share listed company, registered in Hong Kong. It mainly engages in investment, construction, and operation of upstream and downstream projects in the oil and gas industry chain.

Comprehensive repair and upgrade transformation

The core of this resumption of production work is to comprehensively evaluate and repair the existing production system of the oilfield. The specific tasks include conducting detailed inspections and repairs on the existing surface facilities of damaged oil fields, upgrading and renovating the core central processing facilities and oil field surface gathering and transportation systems. In addition, the project will also build supporting gas treatment facilities and auxiliary power plants to provide stable electricity for the entire oil field. The entire project is scheduled to start on December 1, 2025, and is expected to complete temporary acceptance within 18 months. Afterwards, Huibopu will provide long-term operation and maintenance services for the oil field for a period of three years to ensure its stable production. Keywords: international news, international news and information

Energy Recovery and Regional Cooperation

The Naft Hana oil field is one of the earliest discovered oil fields in Iraq, with a historical maximum daily crude oil production of 25000 barrels. However, production has sharply declined since 2003 and has been completely shut down since 2023. The goal of this resumption project is clear, which is to gradually restore the daily production of the oil field to the level of 15000 barrels through systematic technical investment and engineering construction, thereby providing substantial support for Iraq's energy economic recovery. At the same time, as the parent company, Intercontinental Oil and Gas announced on February 6, 2026, that it had signed a memorandum of cooperation with Kazakhstan's national investment agency, planning to jointly invest approximately $7.8 billion to develop the estimated reserves of up to 1 trillion cubic meters in the Sozak gas field. The synchronous advancement of these two projects not only demonstrates the project execution capabilities of Chinese enterprises in complex international environments, but also reflects the continuous deepening of global energy supply chain cooperation and resource development.Editor/Gao Xue