Iraq News Agency

Iraqi and BP officials signed an agreement in Kirkuk city

It comes to study ways of boosting capacity at the fields to 700,000 to 750,000 barrels a day.

INA – Baghdad

Iraqi and BP officials signed an agreement in Kirkuk city on Thursday.

It comes to study ways of boosting capacity in the fields to 700,000 to 750,000 barrels a day.

The deposits, which include the country’s oldest field, currently can pump about 450,000 barrels a day.

Oil Minister Jabbar al-Luaibi said, “North Oil must restore its glory and its output averages to 1.5 million barrels a day,” he added, “We have an ambitious plan to activate the company.”

Under the agreement, BP will perform surveys and studies necessary to develop Kirkuk’s fields and boost their output to as much as 750,000 barrels day, according to an oil ministry statement citing Michael Townshend, the head of BP’s Middle East business.

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