Iraq’s oil ministry recently signed a letter of intent with BP, based on its performance at Rumaila, to study options to first stem a steep decline in the field’s output and raise production from the aging field.
The KRG issued a statement in the wake of Mr Dudley’s visit to Kirkuk objecting to the deal, worth a reported $100mn, saying Baghdad had no right to award a contract until the final status of the Kirkuk province is determined. (CONTINUED - 326 WORDS)
