Baghdad: The Ministry of Oil, represented by the North Oil and North Gas Companies, signed a contract with the British company BP to develop the Kirkuk fields, including Avana, Baba, Bai Hassan, Khabbaz, and Jambur. This agreement was finalized on Monday and marks a significant step in enhancing the country’s oil and gas production capabilities.

According to National Iraqi News Agency, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, highlighted the ministry’s commitment to maximizing the state’s oil and gas resources. This initiative is expected to positively impact the financial resources of the federal budget.

Minister Abdul Ghani described the contract signing as a major achievement for both the ministry and North Oil Company, especially after a prolonged period of inactivity. He emphasized that the development and rehabilitation efforts will increase national production and enhance gas investment to support electricity production.

The contract outlines plans for the rehabilitation and development of the four Kirkuk fields, alongside the rehabilitation and expansion of gas facilities associated with the North Gas Company.