Türkiye signs partnership deal with bp for Kirkuk oil field redevelopment
bp plc has farmed out a 15% interest in BP Energy Co. of Kirkuk Ltd. (BP ECKL) to state-owned Turkish Petroleum Corp. (TPAO), expanding on a partnership to support the redevelopment of major oil and gas fields in the Kirkuk region of northern Iraq.
The move comes as Iraq aims to increase oil and gas production through various international partnerships.
Signed during the official visit of Iraqi Prime Minister Ali Al-Zaidi to Türkiye, the agreement builds on a strategic cooperation memorandum of understanding (MoU) signed by the companies in February 2026.
The development and production contract covers an initial phase of oil and gas production of more than 3 billion boe from the Baba and Avanah domes of Kirkuk oil field and the adjacent Bai Hassan, Jambur, and Khabbaz fields in Federal Iraq, all currently operated by the North Oil Co. (NOC) and North Gas Co. (NGC), bp said in a release July 28. The contract area holds potential for additional exploration, the companies said.
The deal follows one that saw ConocoPhillips acquire a 42% interest in BP ECKL. Together, bp said, the transactions support the next phase of redevelopment in Kirkuk.
Türkiye Energy and Natural Resources Minister Bayraktar said the agreement is a step “towards making Turkish Petroleum a company that produces 1 million barrels of oil and natural gas per day."
Following completion of the transaction, which is subject to regulatory approvals, bp will remain the majority shareholder and a key participant in BP ECKL (bp 43%, ConocoPhillips 42%, TPAO 15%).
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Mikaila Adams
Managing Editor, Content Strategist
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was later named Managing Editor - News. Her role has expanded into content strategy. She holds a degree from Texas Tech University.