BP "Interested in Kirkuk Oil Field"

By John Lee.

Oil minister Abdul Kareem Luaibi [Elaibi] has confirmed that BP is interested in getting involved in the redevelopment of the giant Kirkuk oil field, which is suffering from falling output.

According to a report from the Wall Street Journal, production at the field has declined to 260,000 barrels a day from 900,000 bpd in the early 2000s, after years of injecting water and the dumping of unwanted crude and other oil products into the field's reservoir.

Mr. Luaibi also denied reports that Russian oil major LUKoil was interested in the field.

Separately, he said the government likely will approve the sale of ExxonMobil's stake in West Qurna-1.

(Source: WSJ)

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