Oil Minister reveals Kirkuk fields' production volume according to BP's rehabilitation contract

Baghdad - INA

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani revealed today, Wednesday, the production volume of Kirkuk fields according to the contractual terms with the British company BP.

A statement by the Ministry of Oil - received by the Iraqi News Agency (INA) - stated that "Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani confirmed that the agreement signed yesterday with the British company BP was an agreement on the contractual terms that will be included in the contract that is expected to be signed in the coming days."

He added that "signing the contract will be an achievement for the Iraqi government and that the process of developing the four fields in the North Oil Company has great benefits, which will contribute to increasing production rates from the fields to 450 thousand barrels per day, and maintaining production according to these levels within the contractual period, in addition to ensuring investment and rehabilitation of gas facilities to produce no less than 400 cubic meters of gas."

It is noteworthy that "the fields that will be developed by the North Oil Company according to the agreement with BP are: Bai Hassan field, Kirkuk field, Jambur field, and Khabbaz field."