RE: News Leak3 Sep 2025 16:15
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IraqToday 16:08
Iraq and BP Forge $25 Billion Kirkuk Oil Deal
By Michael Kern - Sep 03, 2025
BP engineers have started initial assessments at four strategic oilfields in Kirkuk, Iraq, as part of a $25-billion agreement to redevelop the region's oil and gas infrastructure.
The deal, finalized in March, aims to boost production and improve efficiencies in oil and gas extraction, with an initial phase targeting over 3 billion barrels of oil equivalent.
This agreement aligns with Iraq's plan to raise its oil production capacity and is expected to increase Kirkuk's output by 50,000 to 100,000 barrels per day in the coming years.