By Alex Kimani for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. BP To Develop Iraq's Kirkuk Oil Fields On Profit-Sharing Model British oil and gas giant BP Plc (NYSE:BP) will develop Iraq's Kirkuk oil and gas fields based on a profit-sharing […]
By John Lee. UK-based oil major BP has said that negotiations regarding an integrated redevelopment programme for the Kirkuk region are expected to be complete early in 2025. The non-binding agreement, signed on Thursday, involves the rehabilitation and development of four oil fields in Kirkuk. It also proposes to explore opportunities for investment in power […]
By John Lee. Iraqi Prime Minister Mohammed Shia' Al Sudani oversaw the signing of a comprehensive memorandum of understanding between Iraq's Ministry of Oil and BP to rehabilitate and develop four oil fields in Kirkuk. The Minister of Oil, Hayan Abdul Ghani, and BP's CEO, Murray Auchincloss, signed the agreement. The memorandum includes the rehabilitation […]
By Simon Kent. Kurdish and Iraqi officials are still thrashing out details of a more sustainable and far reaching oil revenue and exports deal, following the resumption of federal oil exports into the Kurdish pipeline from Kirkuk. Last week, 100,000 bpd of Kirkuk crude from Baba Gorgor, Jambour and Khabbaz, three fields in the giant Kirkuk […]
By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying "We had a letter of intent, which was for a year, and we extended that until the end of this […]
KRG statement on recent events at oil facilities and infrastructure in Makhmour district This morning, members of the Kurdistan Regional Government (KRG) and Kirkuk Oil Protection Forces moved to secure the oil fields of Bai Hassan and the Makhmour area, after learning of orders by officials in the federal Ministry of Oil in Baghdad to […]
By John Lee. Reuters has reported that BP will undertake work to arrest declining production at the Kirkuk oilfield, in a move that has outraged the Kurdistan Regional Government. Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate (PCLD), told The Wall Street Journal that a request has been sent to […]
The Kurdistan Regional Government (KRG) has issued the follow statement on the reported granting of a contract to BP for the development of oilfields in Kirkuk: Neither Iraq’s federal oil ministry nor state-owned oil companies have the right to unilaterally award contracts to develop currently producing fields in Kirkuk province or in other adjacent areas, […]
