Irakmin launches 3rd round of energy bidding for China winning chances more

Iraq will launch a third round of energy tenders for the global development of three gas fields in Iraq tomorrow, according to China's voice, the global Chinese Broadcasting Network. Iraq has the second largest oil reserves in the world, after Saudi Arabia. But oil production, the backbone of Iraq's economy, has not yet recovered to its pre-war levels, owing to the ageing of its facilities, outdated technology and frequent attacks on pipelines. What does bidding in the Middle East mean for China?　　China Energy Network chief information Officer Han Xiaoping made the following analysis.　　Question one: Should Chinese enterprises actively participate in the bidding? Han Xiaoping: Of course, we should participate actively. Iraqi oil resources are very rich, and the quality of oil is very good, so if Chinese enterprises can participate in Iraq's oil development, on the one hand can guarantee China's oil supply, on the other hand can increase the global oil supply, stabilize the price of oil. For China, we are developing oil in many places, but oil fields as good as Iraq are rarely met.　　Once we can make a great progress there, companies such as Sinopec and PetroChina can also greatly increase their market value, and we should not forget that we have 10% of the pensions in these companies, if these companies can develop well, which is very good news for everyone in China.　　Question two: Which of the countries involved in the bidding has more opportunities? Han Xiaoping: Surely there are more opportunities for China. There are several reasons: first, we have no feuds there, there is no grudge in the past. After the war in Iraq, the United States caused a large number of casualties, although the United States hopes to obtain more resources there, but once the United States investment there, it will become a long-term target of some terrorist or tribal armed attacks. The cost of ensuring security in the United States will be enormous. Other countries are facing similar problems. China is much better.　　For the United States, where China's exploration and development of oil has increased the supply of global oil, especially to allow the Iraqi government to get more money to allow Iraq to rebuild successfully, the question of Iraq-including how the United States can get rid of it-is a positive sound. In addition, China has an advantage, that is, the Chinese workers endure hardship, in a more hostile environment, because many of Iraq's post-war infrastructure has been destroyed, if China is there for exploration and development, other countries fear that his engineering and technical personnel can not withstand such a harsh environment,　　But the hard-working spirit of Chinese workers is good for us to get more resources there, so we think Chinese companies have more opportunities there than in other countries.　　Question three: If China really wins the bid, will exploration and development face challenges? Han Xiaoping: Sure. Because Iraq has not yet calmed down, there are still a variety of armed conflicts on the ground. It is true that when our employees get there, there will be many challenges in life and we should also protect our employees. There are indeed a variety of problems to be developed there, including the Land of war.Thunder, small shells and so on, such risks exist a lot, so we should be prepared to do so.