Baghdad: The Council of Ministers has announced a decision to amend rental fees for all state-owned properties. This adjustment is intended to align rental costs with current market prices and the specific geographical locations of the properties.

According to National Iraqi News Agency, during a session held on Tuesday, the Council authorized the Ministry of Oil, represented by the North Oil Company and the North Gas Company, to enter into a contract with the British company BP. This contract pertains to the development and production project for the four Kirkuk oil fields, which include the Kirkuk field with its two domes (Baba and Avana), Bai Hassan field, Jambur field, and Khabbaz field. The agreement marks a significant step towards the activation phase and the commencement of oil operations in these areas.

Additionally, the Council has granted the Ministry of Electricity authorization to implement various projects using the operational and investment budget for the year 2025. These projects will cover the production, transmission, and distribution sectors. This decision comes as an exception to the instructions for implementing government contracts (2 of 2014) and the associated controls, including controls (22) for the unified electronic platform for advertisements and tenders. A financial ceiling of 10 billion dinars has been set for each project, with consideration given to each case independently.