Turkish Petroleum gained a partnership stake in the BP-operated oil production field in Kirkuk, Iraq, marking a new chapter in bilateral energy cooperation.
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Updated Aug 1
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What happened
Turkish Petroleum gained a partnership stake in the BP-operated oil production field in Kirkuk, Iraq, marking a new chapter in bilateral energy cooperation.
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Related events
- Iraq is seeking to expand its oil production and refining capacity, leading to a new partnership deal reviving Chevron's presence in the country.
- A new pipeline is planned from Basra to Ceyhan terminal, part of a larger development road connecting Iraq to Europe.
- The Iraq Petroleum Company, built in the 1950s, is involved in pipeline projects connecting Basra oilfields to Baniyas, with exploration underway for a revival of the route to Kirkuk.
- Türkiye and Iraq are advancing relations through cooperation in energy, defense, transport, and trade, while also supporting the U.S.-Iran peace agreement process.
- North Oil Company operates oil fields in Kirkuk, northern Iraq, supplying domestic consumption.