Fossil Energy – Kirkuk Field
Iraq signed a massive deal with BP covering four Kirkuk oil and gas fields by early February that will exceed the value of TotalEnergies’ $27bn Basra agreement.
The oil deal is part of a raft of deals signed between London and Baghdad on January 14 between Iraqi Prime Minister Shia al-Sudani and Keir Starmer.
Deputy Prime Minister and Minister of Oil Hayan Abdul Ghani Al-Sawad attended the signing ceremony. 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.
BP, which helped discover Kirkuk’s oil in the 1920s and estimates that the area holds about 9bn barrels of recoverable oil, already operates Iraq’s giant Rumaila field through a 50% joint venture stake. The company has maintained operations in Iraq for a century.
