Baker Hughes Joins Race for Kirkuk Oilfield

Baker Hughes has joined BP and Schlumberger on separate talks with Iraq to more than double the output from the giant Kirkuk oil field in northern Iraq, according to Dow Jones.

“Iraq is conducting preliminary talks with these three companies to examine plans to develop the field,” an Iraqi oil industry figure said on Monday.

Iraq is aiming to sign a 5-10 year deal with one of these firms to bring output from the field from roughly 280,000 barrels a day currently to 600,000-700,000 bpd over the next five years.

(Source: Dow Jones, Reuters)

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