Oil and Gas News from OilGasDaily.Com
OIL AND GAS
BP to develop new oil and gas fields in Iraq
BP to develop new oil and gas fields in Iraq
by AFP Staff Writers
Baghdad (AFP) Aug 1, 2024

Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk.

A memorandum of understanding was signed by Iraq's Oil Minister Hayan Abdel Ghani and BP's CEO Murray Auchincloss, Prime Minister Mohamed Shia al-Sudani's media office said.

"The memorandum includes the rehabilitation and development of the four oilfields under the North Oil Company in Kirkuk: the Kirkuk oilfield, Bai Hassan, Jambur and Khabbaz oilfields," the statement said.

"This initiative is part of the government's efforts to optimally invest in promising energy opportunities, aiming to increase and enhance oil production and gas and solar energy investments," it added.

BP is one of the biggest foreign players in Iraq's oil sector, with a history of producing oil in the country dating back to the 1920s when it was still under British mandate.

According to the World Bank, Iraq has 145 billion barrels of proven oil reserves -- among the largest in the world -- amounting to 96 years' worth of production at the current rate.

But Iraq aims to keep exploring to boost its crude reserves to more than 160 billion barrels, Abdel Ghani said in May.

Despite its vast oil reserves, Iraq hopes to increase natural gas production to help reduce dependence on imports from neighbouring Iran, a crucial supplier for Iraqi power generation.

Sudani has repeatedly stressed the need for Iraq to diversify energy sources to ease Iraq's chronic power outages, especially during summer.

To reduce its dependence on Iranian gas, Baghdad has started importing electricity from Jordan and Turkey, and it hopes to start connecting to the electricity grid of Gulf countries later this year.

rh/hkb

BP

Related Links
All About Oil and Gas News at OilGasDaily.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
OIL AND GAS
Researchers Develop Efficient Method for Green Hydrogen Production
Los Angeles CA (SPX) Jul 29, 2024
Researchers at Oregon State University have unveiled a new material that significantly enhances the conversion of sunlight and water into hydrogen, a clean energy source. Kyriakos Stylianou and his team from the OSU College of Science have created a high-speed, high-efficiency photocatalyst for hydrogen production. This new material holds promise for use in fuel cells for cars, chemical manufacturing, metal refining, and plastics production. Stylianou, who specializes in metal organic framew ... read more

OIL AND GAS
A recipe for zero-emissions fuel: Soda cans, seawater, and caffeine

Activists take aim at bank financing Serbia biomass projects

Chemists Develop Efficient Method to Convert CO2 into Sustainable Fuel

Chemists design novel method for generating sustainable fuel

OIL AND GAS
Scientists Urge Policy Changes to Enhance Biodiversity on UK Solar Farms

Hong Kong Researchers Enhance Solar Cell Efficiency and Durability

Innovative Coating Boosts Efficiency and Lowers Costs of Solar Cells

Solar Cell Efficiency Enhanced with Innovative Perovskite Technology

OIL AND GAS
Engineers Develop Cost-Effective Seafloor Testing Device for Offshore Wind Farms

Why US offshore wind power is struggling - the good, the bad and the opportunity

OIL AND GAS
Singapore, US sign civil nuclear cooperation pact

Sweden and US sign cooperation pact on nuclear energy

Australia bans uranium mining at Indigenous site

Russia and Kyrgyzstan sign radioactive decontamination deal

OIL AND GAS
Worst yet to come in once-in-a-century southern Africa drought, UN says

UK climate activists guilty of throwing soup over Van Gogh's 'Sunflowers'

UK climate strategy under scrutiny at landmark court case

Jail terms for UK climate activists stoke protest rights fears

OIL AND GAS
Uber teams up with China's BYD for 100,000 EVs

Volkswagen profit dips on slowing Chinese demand

EV transition worries French car industry workers

BMW profits slip on weaker China sales

OIL AND GAS
Rockets launched at Iraq base hosting US troops: security sources

Blast hits Iraq former paramilitaries depot: officials

Sweden to phase out development aid to Iraq

Drones target Iraq base housing US-led coalition: security sources

OIL AND GAS
Germany says will not be 'intimidated' by Putin's nuclear threats

Seoul spy agency says N. Korean leader's daughter is 'likely successor'

Putin threatens to restart production of mid-range nuclear weapons

Kim calls for 'people's paradise' on Korean War anniversary

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.