Memorandum of Understanding Signed with BP on a Program to Assess the Comprehensive Redevelopment Potential of Kirkuk Oil Fields

Economy

Today, 11:14

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Baghdad-INA

A memorandum of understanding (MoU) was signed in London on Tuesday evening to assess the feasibility of a comprehensive redevelopment program for four oil fields in Kirkuk.

“The signing ceremony was attended by Deputy Prime Minister and Minister of Oil Hayan Abdul Ghani Al-Sawad the MoU was signed on behalf of Iraq by the Director General of North Oil Company, Amer Khalil Ahmed, and on behalf of BP by the company’s Iraq Branch Manager, Zaid Al-Yasiri,” The Prime Minister's Media Office said in a statement received by the Iraqi News Agency (INA).

The MoU aims to assign the project for rehabilitating and developing the four oil fields operated by the North Oil Company in Kirkuk to BP. The objective is to enhance production and achieve optimal targeted rates of oil and gas output.