12:54 - 2.08.2024

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August 2, Fineko/abc.az. The Iraqi Oil Ministry and British energy company BP have signed a memorandum of understanding on development of oil and gas fields in Kirkuk province in northern Iraq.

ABC.AZ reports, referring to the Office of Iraqi Prime Minister Mohammed Shia Al Sudani, who took part in the signing ceremony.

The Memo was signed in Baghdad between Iraq's oil minister Hayan Abdel-Ghani and BP CEO Murray Auchincloss.

The agreement provides, in particular, for the rehabilitation and development of four fields managed by the Iraqi state oil company North Oil Company.

Al-Sudani's office stressed that this agreement is in line with the government's efforts to optimally invest in promising energy opportunities in order to increase and improve oil production and expand investments in gas and solar energy in the region.

According to the agreement, BP will develop 4 oil and gas fields operated by Iraq National Oil Company (INOC): Kirkuk (Baba and Avanah domes), Bai Hasan, Jambour, Khabbaz.