Iraq, BP sign landmark agreement to boost Kirkuk’s oil sector
The agreement, signed between the Iraqi Oil Ministry's North Oil Company and BP, focuses on the development of the Bai Hassan, Avana, Jambur, and Khabbaz oil fields.
ERBIL (Kurdistan24) – The Iraqi Oil Ministry and British Petroleum (BP) have signed an agreement to develop and enhance four vital oil fields in Kirkuk. The signing, overseen by Iraqi Prime Minister Mohammed Shia al-Sudani, marks a significant milestone in the country’s efforts to strengthen its oil production capabilities.
The agreement, signed between the Iraqi Oil Ministry's North Oil Company and BP, focuses on the development of the Bai Hassan, Avana, Jambur, and Khabbaz oil fields. Additionally, it includes plans for the rehabilitation and expansion of gas facilities, paving the way for increased energy production and improved infrastructure in the region.
This collaboration follows Prime Minister al-Sudani's visit to London on Jan. 14, where he secured investment commitments from BP to support Kirkuk’s oil industry. The move is expected to bring advanced technology and expertise to Iraq’s energy sector, boosting efficiency and long-term sustainability.
While experts continue to assess the agreement's potential impact, the initiative reflects Iraq’s commitment to modernizing its oil industry and fostering economic growth.