Iraqi Oil Ministry and BP sign oil MoU for Kirkuk fields

Shafaq News/ On Thursday, the Iraqi Ministry of Oil and British oil company BP signed a comprehensive oil memorandum of understanding (MoU) to develop Kirkuk's oil and gas fields.

According to a statement from the office of Prime Minister Mohamed Shia al-Sudani, the signing ceremony was overseen by al-Sudani, with Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani representing the Iraqi side and BP's CEO, Murray Auchincloss, representing the company.

The statement highlighted that the "MoU includes the rehabilitation and development of four oil fields operated by North Oil Company in Kirkuk: the Kirkuk fields with their Baba and Avana domes, Bai Hassan, Jambour, and Khabbaz fields. Additionally, the MoU provides for the possibility of agreeing on other fields or exploration blocks, subject to mutual consent."

"This agreement aligns with the government's efforts to optimally invest in promising energy opportunities, aiming to increase and enhance oil production and expand investments in gas and solar energy in the region." The statement concluded.