Kirkuk: Kirkuk Governor, Rebwar Taha, announced that a number of trusted international foreign companies have actually begun resuming their investment activity in the province, led by British Petroleum, by signing new development contracts in oil and gas fields, after a hiatus that lasted for decades due to previous security conditions.

According to National Iraqi News Agency, this British company will invest $26 billion, noting that the current plan includes implementing a series of strategic projects, the first of their kind in Kirkuk. These include the construction of a modern 400-megawatt power plant to cover a large portion of the governorate’s energy needs, in addition to building an integrated petrochemical plant for the first time in Kirkuk’s history, with the aim of developing manufacturing industries and reducing dependence on imported products.

The Governor explained that the operating companies have allocated approximately $10 million annually to support community services within social responsi
bility programs, to develop the education, health, and infrastructure sectors in the areas hosting investment projects.

He pointed to the signing of a contract to establish an investment refinery with a capacity of 70,000 barrels per day. This will secure the governorate’s needs for petroleum derivatives, reduce transportation and distribution costs, and achieve energy self-sufficiency for the governorate and all of Iraq.