BP to raise Kirkuk oil output to 420k bpd
Shafaq News- Baghdad
Kirkuk oilfields currently produce 320,000 barrels per day (bpd), with BP's development project targeting a peak output of 420,000 bpd, Oil Ministry spokesman Salim al-Rikabi said Saturday, as Iraq disclosed broader production and export figures amid ongoing talks to reopen Hormuz transit routes.
BP's work will include rehabilitating and developing Kirkuk oilfields, expanding Northern Gas Company facilities, constructing a 400-megawatt power station, absorbing local labor, implementing social welfare projects, and developing the technical capacity of the North Oil and Northern Gas companies. The projects will also eliminate continuous gas flaring by utilizing produced gas as fuel for power stations, al-Rikabi said, contributing to both economic and environmental benefits.
Future plans with BP include expanding cooperation and discussions on a broader exploration project in the Kirkuk area, he added. The Oil Ministry has already signed a letter of intent with BP and ConocoPhillips to study investment opportunities in Kirkuk's oil sector.
On gas, current production from Kirkuk stands at 255 million standard cubic feet per day, with the project targeting peak gas output of 400 million standard cubic feet per day through investment in associated gas, al-Rikabi said.
Iraq's Oil Minister Basim Mohammed Khudair confirmed Saturday that the country is currently producing 2.7 million bpd nationwide, with exports ranging between 1.5 and 1.7 million barrels daily. Talks are underway with Iran to allow Iraqi oil exports through the Strait of Hormuz, though no agreement has yet been implemented, he said.
The bulk of Iraq's oil production comes from the southern Basra fields, which include the giant Rumaila, West Qurna, Zubair, and Majnoon fields and account for roughly 70-80% of the country's total output. Kirkuk, in northern Iraq, has fields, including Kirkuk Main Field, Bai Hassan, Jambur, and Khabbaz, among the oldest in the country.
Read more: Four Iraqi Kirkuk fields target 450K bpd under BP
