The Turkish state-owned oil company (Turkish Petroleum, TPAO) will participate in the development of fields in Kirkuk in northern Iraq. This is stipulated in an agreement signed during Iraqi Prime Minister Ali al-Zaidi's visit to Ankara, Turkish President Recep Tayyip Erdogan announced.
„Turkish Petroleum has been granted the right to participate in the development of fields in Kirkuk. The agreement signed today is a historic step in the partnership in the energy sector“, Erdogan said after talks with al-Zaidi. The meeting was broadcast by TRT Haber.
Turkish Energy Minister Alparslan Bayraktar clarified that in accordance with the agreement signed with BP, TPAO has acquired a 15% stake in BP Energy Company of Kirkuk Limited (BPECKL). “Through this partnership, TPAO will participate in the development of fields in Kirkuk, one of the most important hydrocarbon producing regions in Iraq. The company will cooperate with its partners in BPECKL to bring reserves potentially amounting to approximately 3 billion barrels into production“, Bayraktar wrote in X.