Iraqi state firm North Oil Company (NOC) is aiming to stabilize and raise output at its Kirkuk operations to “determine output levels in preparation for [eventual] handover” to BP, a senior executive told Iraq’s Shafaq News on 13 September. BP last month signed a fresh MoU with Iraq to re-develop the aging Kirkuk field alongside the neighboring Bai Hassan, Jambur and Khabbaz oil fields (MEES, 2 August).
The NOC official says his firm plans to reach “the highest possible” baseline output at the fields before handover to BP. Iraq has a track record of increasing output at brownfield assets before offering them for development by foreign firms, but it is unclear whether NOC can deliver on time. (CONTINUED - 307 WORDS)