Baghdad: Oil Minister Hayyan Abdul Ghani announced that Kirkuk oil will be exported through the Kurdistan Region to the Turkish port of Ceyhan.

According to National Iraqi News Agency, Abdul Ghani revealed that two agreements were signed with the American company Chevron to manage the West Qurna 2 and Balad oil fields in Salah al-Din Governorate, which are considered significant for the Iraqi economy.

The Russian company Lukoil has been overseeing the development and extraction of oil in the West Qurna 2 field since 2008. Initially, a tripartite agreement was formed between Chevron, Lukoil, and the Basra Oil Company to transfer the West Qurna 2 field to Chevron. The main agreement was later finalized between the Basra Oil Company and Chevron. The West Qurna 2 field currently produces about 450,000 barrels of oil per day. Abdul Ghani stated that once Chevron assumes operations, production is expected to increase to between 750,000 and 800,000 barrels per day.

Regarding the Balad oil field agreement in Salah al-Din, Abdul Ghani noted that this field has been inactive for years. With Chevron’s intervention, production is anticipated to reach 300,000 barrels per day. Amer Khalil, Director of the North Oil Company, mentioned that Chevron will start operations at the Balad field within a week to ten days and that it will generate between 5,000 and 10,000 job opportunities for Salah al-Din residents.

In terms of oil export from the Kurdistan Region, the current volume is between 200,000 and 210,000 barrels per day, with ongoing efforts to increase it. Abdul Ghani also disclosed plans to export 50,000 barrels per day from the Kirkuk oil fields via the Kurdistan Region pipeline to the Turkish port of Ceyhan in the near future.

A tripartite agreement involving Baghdad, Erbil, and oil companies was signed on September 22nd of last year to resume oil exports from the Kurdistan Region, extended until March 31st of this year. Abdul Ghani indicated that the agreement would be extended, emphasizing continuous communication with the Kurdistan Region’s Ministry of Natural Resources and the regional government’s interest in renewing the agreement.

Iraq’s total oil production is approximately 4.5 million barrels per day, with 3.5 million barrels being exported.