Chinese oil companies continue expanding in Iraq, seeking new opportunities in the country’s energy-rich landscape.
Several independent Chinese oil firms now drive major oil development projects across Iraq. These firms have committed billions of dollars to increase production and infrastructure. The phrase Chinese oil investment projects stands at the center of these efforts.
United Energy Group (UEG), based in Hong Kong, leads this charge. The company already produces about 120,000 barrels per day in Iraq’s Block 9. UEG also secured exploration rights for the Fao block near Iraq’s southern border with Kuwait and Iran.
Another firm, Zhongman Petroleum and Natural Gas Group, started as an oilfield service provider. However it now holds exploration licenses for the East Baghdad (North) and Middle Euphrates areas. The group will spend around $481 million on these two blocks to boost development.
Meanwhile, Geo-Jade Petroleum, listed in Shanghai, takes on one of the most ambitious Chinese oil investment projectsin Iraq. The company plans to upgrade the Tuba oilfield in southern Iraq to produce 100,000 barrels per day. Geo-Jade will also help build a refinery that can process 200,000 barrels per day.
In a separate plan, Geo-Jade intends to increase Tuba’s production to 40,000 barrels per day by mid-2027. They will spend around $848 million on this phase. These developments reflect Geo-Jade’s long-term commitment to Iraq’s energy sector.
Furthermore, Geo-Jade will begin producing oil at Naft Khana block by early 2027. As well as the target is to reach 15,000 barrels daily. This area lies in central Iraq and was awarded to Geo-Jade in a past auction.
The company also focuses on the Huwaiza oilfield in Meysan province. It plans to extract 10,000 barrels per day from the site by late 2027.
Through these Chinese oil investment projects, Iraq strengthens its partnerships with Asian firms. These collaborations help modernize infrastructure and boost local energy production.
As Chinese firms grow their presence, they offer alternatives to traditional Western and state-owned oil giants. Iraq benefits from this competition by attracting diversified investment and improving national output.