Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, revealed details regarding the production volume from the Kirkuk fields, based on the contractual agreement with the British company BP.
The Ministry of Oil stated that the agreement, signed the previous day with BP, outlines the contractual terms that will be included in the final contract, expected to be signed soon.
Minister Abdul-Ghani noted that finalizing the contract will be a significant achievement for the Iraqi government. The development of four fields managed by the North Oil Company is expected to significantly boost production, with an increase to 450,000 barrels per day. The project will also ensure sustained production at these levels throughout the contractual period. Additionally, it will support the investment and rehabilitation of gas facilities, aiming to produce no less than 400 million cubic meters of gas.
The fields to be developed under this agreement are Bai Hassan, Kirkuk, Jambur, and Khabbaz fields.