Kirkuk: Two Iraqi companies have renewed their contract with British company BP to redevelop oil fields in the Kirkuk region of northern Iraq. BP, along with the state-owned North Oil Company and the North Gas Company, has activated the agreement to focus on the rehabilitation and development of oil fields and associated gas processing facilities.

According to National Iraqi News Agency, the contract encompasses a range of sectors including oil, gas, power, and water. Zaid Al-Yasiri, President of BP Iraq, stated in a press release that Kirkuk holds significant importance in BP's history in Iraq. The renewed agreement underscores BP's commitment to partnering with Iraq by integrating local capabilities with BP's global expertise to foster the growth of Iraq's oil and gas sectors.

Al-Yasiri emphasized that the agreement is a continuation of BP's longstanding partnership with the Government of Iraq, marking a new chapter in their cooperative efforts to enhance Iraq's energy potential. The project investments are expected to stimulate economic growth, generate both direct and indirect employment opportunities, and bolster the capabilities of local supply chains in Kirkuk. Additionally, social welfare projects will be developed to address the needs of the local community and align with national development priorities, through consultation and collaboration with partners.