HOUSTON, TEXAS (Editors at Energy Analytics Institute, 25.Feb.2025) — bp reached agreement on all contractual terms with Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.
The agreement is subject to final governmental ratification, bp said 25 Feb. 2025 in an official statement.
Importantly, bp was a member of the consortium of oil companies that discovered oil in Kirkuk in the 1920s. Between 2013-2019 bp worked with the Ministry of Oil and North Oil Company (NOC) on technical studies exploring the potential for redevelopment at Kirkuk.
