Iraq signs deal with BP to boost Kirkuk oil production

Iraqi Ministry of Oil and BP have signed a contract for the development and production of four oil fields in Kirkuk in presence of Iraqi Prime Minister Mohammed Al-Sudani, Report informs via Shafaq News.

According to a statement from Al-Sudani's media office, the contract included the rehabilitation and development of the four fields (Kirkuk, Bai Hassan, Jambur, and Khabbaz) to enhance hydrocarbon reserves and increase crude oil production, with the goal of reaching a peak production rate of 420,000 barrels per day.

The contract included also the utilization of associated gas, by upgrading and expanding the North Gas Company's facilities to produce 400 million standard cubic feet per day, as well as establishing a 400-megawatt power plant, the statement noted.

Last month, the Iraqi PM’s office announced signing an agreement with BP to develop and rehabilitate the same fields.