Oil Ministry signs contract with BP to develop Kirkuk's four fields

INA-  Baghdad

 
The Ministry of Oil announced on Monday that it has initialed a contract for the development of the four Kirkuk fields with BP.
 
The Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani al-Sawad said in a statement obtained by the Iraqi News Agency (INA) that “a contract was signed today to develop the Kirkuk fields represented by the North Oil and North Gas Companies, and the fields including (Kirkuk, Afana, Baba, Bai Hassan, Khabbaz and Jambur) with the British company BP,” stressing “the ministry's keenness to maximize the state's resources from oil and gas, which will reflect positively on maximizing the financial resources of the federal budget.”

“The signing of the contract to develop the fields of the North Oil Company is a major achievement for the ministry and the company, especially after a period of suspension,” he added, noting that ”the development and rehabilitation operations will add quantities to national production, as well as the exploitation of gas and increase the quantities of production to support the production of electric power.”

He praised “all the parties that contributed to achieving this achievement,” pointing out that “the contract includes the rehabilitation and development of the four Kirkuk fields, in addition to the rehabilitation and expansion of the gas facilities in the North Gas Company.”

The contract was signed in the presence of the Undersecretary for Extraction Affairs, the Undersecretary for Gas Affairs, the Undersecretary for Refining Affairs, the General Managers of the Basrah Oil and Central Oil Companies, the Director General of the Reservoir and Field Development Department and the Assistant Director General of the Petroleum Contracts and Licenses Department.