By John Lee.
Türkiye Petrolleri Anonim Ortaklığı (TPAO) is to acquire a 15% interest in BP Energy Company of Kirkuk Limited (BP ECKL), the vehicle through which BP is supporting the redevelopment of major oil and gas fields in the Kirkuk region of northern Iraq.
According to BP, the agreement builds on a strategic cooperation memorandum of understanding (MoU) signed by the two companies in February 2026.
The deal was signed during the official visit of Prime Minister Ali al-Zaidi to Türkiye. It follows ConocoPhillips' previously announced acquisition of a 42% interest in BP ECKL. Following completion, BP will remain the majority shareholder, with stakes of BP 43%, ConocoPhillips 42%, and TPAO 15%.
The Development and Production Contract covers an initial phase of production of more than 3 billion barrels of oil equivalent from the Baba and Avanah domes of the Kirkuk oil field and the adjacent Bai Hassan oil field, Jambur and Khabbaz fields. All fields are currently operated by the North Oil Company (NOC) and North Gas Company (NGC).
BP chief executive Meg O'Neill said the agreement builds on more than 30 years of partnership with TPAO in the Caspian region, and positions BP "strongly for the next phase of redevelopment in Kirkuk."
(Source: BP)
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