By John Lee.
Iraq's Ministry of Oil has signed an initial agreement with BP to develop four oilfields in Kirkuk.
The agreement, signed by North Oil Company (NOC) and North Gas Company (NGC), covers the development of the Avana and Baba domes of Kirkuk, Bai Hassan, Khabbaz, and Jambur fields.
Minister of Oil Hayan Abdul Ghani highlighted the importance of this deal in enhancing state revenues and increasing national oil and gas output. He noted that after a period of stagnation, the project would contribute to higher oil production and greater gas utilisation, particularly for electricity generation.
Senior officials from the Ministry of Oil, including deputies for extraction, gas, and refining, as well as directors from Basra Oil Company (BOC), Midland Oil Company (MdOC), and North Gas Company, attended the signing ceremony.
The contract also includes rehabilitation and expansion of gas facilities at North Gas Company, further supporting Iraq's energy sector development.
(Source: Ministry of Oil)
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