Iraq intends to contract with "BP" to develop the Kirkuk field

by **RamblerNash** Thu Jan 18, 2018 10:22 pm

Iraq intends to contract with "BP" to develop the Kirkuk field

18/01/2018

Economy News _ Baghdad

BAGHDAD (Reuters) - Iraq plans to sign an agreement with BP on Thursday to boost crude production from Kirkuk's oilfields in the north of the country, an Iraqi oil official said.

The official told Reuters that the deal would be signed at the headquarters of the state-run Iraqi Oil Company, which operates the fields.

The Iraqi government asked mid-October, from BP oil, to accelerate the development of plans for the development of oil fields in Kirkuk, after the control of Iraqi security forces on the oil fields in the province.

The Ministry of Oil also discussed with the company in the same month, bilateral cooperation and development of the oil and gas sector in the country.

BP has been working on oil exploration in Iraq since the 1920s, starting with the extraction and export of oil from the Babajargur field in Kirkuk, and was the first company to return to work in Iraq after the Anglo-American war on Iraq in 2003.

In 2009, BP and PetroChina were awarded technical services to increase production in Rumaila, in partnership with the state-owned South Oil Company, recently renamed the Basra Oil Company.

The company also provided technical assistance to the North Oil Company to assist in the redevelopment of the Kirkuk field. It is estimated that Kirkuk has about 9 billion barrels of recoverable oil.

BP and PetroChina are partnering to develop Rumaila, the world's third largest producer, estimated to have about 17 billion barrels of recoverable oil.

http://economy-news.net/content.php?id=10686