BP CEO Murray Auchincloss told attendees at the Energy Intelligence Forum in London on 25 November that his firm is looking to close a deal with Iraq to re-develop the aging Kirkuk oilfield north of the country. “We’re very excited about that opportunity,” he said, adding that “I hope to come to an agreement with the nation fairly soon. I would like that to be ahead of February. But let’s see how it goes.”
BP re-engaged in negotiations with Baghdad to develop the field’s Baba and Avanah domes, as well as the neighboring Bai Hassan, Jambur and Khabbaz oil fields after signing an MoU in August (MEES, 2 August). The UK major has a long history at Kirkuk, but in 2020 it walked away after concluding a three-year study of the field. This previous study came under the auspices of a 2013 MoU which was disrupted by the Islamic State’s 2014 takeover of much of northern Iraq, with the major restarting work in 2018. (CONTINUED - 634 WORDS)
