BP is set to construct new power plants in Iraq under an agreement to develop oil and gas fields in the country, according to an Iraqi official.
The deal focuses on four fields in Northern Kirkuk Governorate, aiming to significantly boost oil and gas production while supporting the operations of Iraq’s North Oil Company, stated Abbas Karim, the financial deputy of Kirkuk’s governor.
“The agreement will enhance output and utilize associated gas, contributing to electricity generation in Kirkuk through newly built power stations,” Karim told the Iraq Shafaq news agency.
The project aligns with Kirkuk’s urgent need to revitalize its hydrocarbon sector, while also addressing electricity shortages and improving essential services. “We are awaiting BP to begin implementing the contract soon,” Karim added.
In 2024, Iraq signed an agreement with BP to redevelop four key oil and gas fields in Kirkuk. This initiative aims to raise oil production by up to 150,000 barrels per day and eliminate gas flaring by 2028 through significant investments.