Iraq and BP sign Deal for Kirkuk Oil Field

Posted on 24 March 2012. Tags: BP, Kirkuk, Kurdistan, North Oil Company, oil contracts

AKnews reports on Saturday that Iraq’s state-owned North Oil Company has signed a preliminary agreement with BP to increase production at the Kirkuk oilfield from about 280,000 barrels per day (bpd) to 580,000 bpd.

Hussein Allam, the undersecretary of North Oil Company said:
“The initial agreement is part of a high-level plan carried out by the Oil Ministry through the Northern Oil Company to develop the production of the northern fields through a partnership contract signed with BP.“

The Kurdistan Region opposes any oil contract to develop oil fields located within the borders of Kirkuk province and other areas in which ownership is disputed between Baghdad and Erbil.

http://www.iraq-businessnews.com/201...kuk-oil-field/