Baghdad, Iraq – Iraq has taken a major step to boost its oil production by revitalizing Kirkuk’s oil fields. A new agreement with British Petroleum (BP) aims to enhance infrastructure, increase gas production, and create jobs. Officials believe this project will provide significant economic benefits.
Iraq expands Kirkuk oil production for economic growth by addressing the long-standing decline in output. These fields have operated for nearly a century, leading to decreased efficiency. The Ministry of Oil partnered with BP to restore production and increase capacity beyond 450,000 barrels per day.
The project includes supplying essential equipment to maintain steady production. BP will provide advanced technology and materials to ensure operational efficiency. This modernization will improve sustainability and long-term output.
Iraq expands Kirkuk oil production for economic growth while also focusing on gas production. Officials plan to raise gas output beyond 400 million cubic feet per day. The extracted gas will be utilized efficiently, supporting national energy needs. Additionally, North Gas Company’s facilities will undergo upgrades to improve processing.
A key part of the agreement involves building a 400-megawatt power station. Some of this energy will support oil and gas operations, while the surplus will strengthen Iraq’s national power grid. This initiative addresses electricity shortages and ensures a stable energy supply.
Iraq expands Kirkuk oil production for economic growth by providing employment opportunities. Local communities near the oil fields will benefit from job creation. The initiative will also pave the way for petrochemical industries and increased refinery capacity. These developments will enhance Iraq’s oil sector and contribute to economic growth.
Officials consider this agreement a major achievement. The Ministry of Oil signed an initial contract with BP to develop four key oil fields. These include Avana, Baba, Bai Hassan, Khabbaz, and Jambur. The government remains committed to maximizing oil and gas resources to boost federal revenues.
This project represents a turning point for Iraq’s energy sector. By expanding production, modernizing facilities, and creating jobs, the country moves toward a stronger and more sustainable economy.
