Iraq and BP on 15 January signed another MoU for the re-development of the aging Kirkuk oilfield in the north of the country during PM Mohammed al-Sudani’s official visit to the UK. The visit came right after both parties agreed technical terms in late-December (MEES, 20 December 2024), indicating that details are yet to be fully ironed-out.
A person involved in the negotiations says the new MoU is another step in “ongoing discussions” and that hopes remain that a deal could be concluded by early 2025. That target was previously publicized by BP, with CEO Murray Auchincloss saying in late November that he wishes to sign “ahead of February,” whilst cautioning “let’s see how it goes” (MEES, 29 November 2024). (CONTINUED - 262 WORDS)