Iraq, BP Sign Initial Deal to Develop Kirkuk Oil Fields
BAGHDAD (AP) — Iraq and British energy giant BP have signed a memorandum of understanding to develop lucrative oil fields in the country’s north.
The Oil Ministry’s statement quotes BP’s president for the Middle East region, Michael Townshend, as saying that his company will conduct surveys and studies to increase production to 750,000 barrels a day. It says the signing took place in Kirkuk on Thursday without giving more details.
As of late last month, the fields around Kirkuk produced around 140,000 barrels a day, all of which went to refineries.
Iraqi forces seized the disputed city of Kirkuk from Kurdish forces in October. The Kurds, who took control of Kirkuk and other disputed areas when Islamic State group swept into Iraq in summer 2014, exported oil through their own pipeline to Turkey.
Related News
Related News
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse
- Shell Nigeria Inks $100 Million Gas Pipeline Deal with Oyo State
Comments