KAR Signs 25-Year Deal for Ajeel Field

By John Lee.

KAR Electrical Power Production Trading FZE (KEPPT), a sister company of Erbil-based KAR Group, has signed a 25-year contract with the North Oil Company (NOC) for the development and operation of the Ajeel oil field.

According to the Ministry of Oil, the contract aims to increase gas production at the field from 135 million standard cubic feet per day (MMscfd) to 300 MMscfd, and to raise oil output from 30,000 to 40,000 barrels per day.

It said the agreement forms part of its strategy to maximise investment in hydrocarbon resources and support electricity generation across the country.

The Ajeel field lies about 30 kilometres north of Tikrit and produces both oil and gas. Its crude is delivered to the Al-Samoud refinery in Baiji, and its gas is supplied to North Gas Company (NGC) for processing.

(Sources: Ministry of Oil, KEPPT)

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