Iraq Plans to Raise Kirkuk Oil Production to 450,000 Barrels Per Day

Reuters

Flames emerge from flare stacks at the oil fields in Kirkuk.

Iraq plans to increase oil production from four oilfields in Kirkuk to 450,000 barrels per day, Oil Minister Bassem Mohammed Khudair has said.

According to a statement issued by Iraq's Ministry of Oil, the move is part of the government’s strategy to develop the country’s oil and gas industry.

As part of the plan, management of the Kirkuk, Bay Hassan, Khabbaz and Jambur oilfields has been transferred from the Northern Oil Company and the Northern Gas Company to a joint management board, where the two companies have joined the British energy giant BP.

Khudair said BP was a strategic partner in oil and gas investment, adding that close cooperation with the British company would help address challenges and obstacles facing the project.

The ministry also said the project would extend beyond oil and gas production and investment to include staff training, the transfer of expertise and technology, and the construction of service infrastructure for local communities.



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