Iraqi Oil Minister Jabar al-Luaibi met a senior BP govt on Monday to debate creating and boosting manufacturing from Kirkuk oilfield, a ministry spokesman stated.

Luaibi, who met BP’s president for the Middle East area Michael Townshend, has requested the British oil main to assist enhance output from Kirkuk oilfield to greater than 700,000 barrels per day, the spokesman stated.

“The minister could be very eager to rehabilitate the Kirkuk oilfield and lift manufacturing from there as quickly as attainable,” spokesman Asim Jihad instructed Reuters.

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The oil minister mentioned reactivating a deal signed in 2013 with BP to revive Iraq’s northern Kirkuk oilfield and assist Baghdad arrest an enormous decline in output from Kirkuk and enhance manufacturing to increased ranges, stated Jihad.

Kirkuk is likely one of the largest and oldest oilfields within the Middle East, nonetheless estimated to include round 9 billion barrels of recoverable oil, based on BP.

BP has offered technical help prior to now to the Iraqi state-owned North Oil Company to help the redevelopment of the Kirkuk area.

“BP and the oil ministry will type a joint crew to go to Kirkuk oilfield and research the state of affairs on the bottom to survey the oilfield,” stated the spokesman with out giving a timing for when the go to might occur.

Kirkuk has change into the important thing space of tensions between Baghdad and Kurdish regional authorities since Iraqi Kurdistan held an independence referendum in September, triggering an offended response from Baghdad and neighboring Turkey and Iran.

Kurdistan’s Peshmerga forces pulled out from Kirkuk oilfields final week as Iraqi navy superior on the realm that’s accountable for a half of Kurdistan’s oil manufacturing, or round 300,000 barrels per day.

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The retreat of Peshmerga forces allowed Baghdad to take management of all oil fields operated by state-owned North Oil Company within the Kirkuk northern province.

Source: www.reuters.com

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