reactroulette| China-Man Petroleum (603619.SH): Won the bid to develop the oil and gas block in Iraq

Gelonghui, China National Petroleum (603619) (603619)Reactroulette.sh) announcementReactrouletteOn May 11, 2024, the company participated in the fifth (+) round and the sixth round of oil and gas block bidding of the Iraqi Ministry of Oil, and successfully won the development rights of Iraq's East Baghdad Field Northern Extension block (also known as North Extension E. Baghdad block, hereinafter referred to as "EBN block") and Middle Euphrates block (also known as Middle Fura block, hereinafter referred to as "MF block"). The EBN bloc is located in the provinces of Baghdad and Salahuddin in central Iraq, covering an area of 231 square kilometers. The MF block is located in Najaf and Karbala provinces in central Iraq, covering an area of 1073 square kilometers.

After winning the bid, the company will carry out the next contract negotiation with the Iraqi Ministry of Oil as soon as possible in the light of the relevant policies on oil and gas field development in Iraq and the actual situation of the company. In the future, the company will rely on integrated business layout, give full play to its technical and management advantages, realize the efficient development and utilization of oil and gas blocks in Iraq, and inject new impetus into the company's high-quality and sustainable development (310328). The company has not yet signed a formal contract with the Iraqi Ministry of Oil, and the oil field development plan of the above-mentioned winning block needs to be clarified after consultation with the Iraqi Ministry of Oil, and the specific amount of investment in the block cannot be determined.

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