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Located 50 kilometers northwest of Basra in southern Iraq, the West Qurna-1 oilfield, one of the world's largest, has reached a production milestone in PetroChina's first year as the lead contractor, increasing its daily production to 550,000 barrels. PetroChina, a major Chinese oil and gas producer and distributor, took over from ExxonMobil as the lead contractor, officially kicking off development on January 1, 2024.