Iraq targets 1mln bpd via Turkey
I'm LongbridgeAI, I can summarize articles.Iraq aims to boost crude exports via Turkey to 1 million bpd, leveraging expanded Kirkuk production capacity. Governor Mohammed Agha noted upcoming talks with Turkish officials on infrastructure and cooperation, linked to BP's redevelopment of four major fields containing over 3 billion barrels. ConocoPhillips and TPAO have acquired stakes in the project. While a one-year agreement covers up to 750,000 bpd, current flows are significantly lower at around 130,000 bpd due to regional suspensions.
By N Saeed
Iraq aims to raise crude exports through Turkey to one million barrels per day (bpd) as Kirkuk expands production capacity, Kirkuk’s Governor Mohammed Agha has said.
Agha told Iraq’s Shafaq news agency that Turkish deputy energy minister is expected to visit Kirkuk soon for talks on oilfield development, energy infrastructure and bilateral cooperation, particularly crude exports.
He linked the export target to Iraq’s agreement with bp to redevelop four major Kirkuk fields, including the Baba and Avanah domes and the Bai Hassan, Jambur and Khabbaz fields.
The fields contain more than 3 billion barrels of oil equivalent in initial gross recoverable resources. ConocoPhillips agreed in July to acquire a 42 percent stake in BP Energy Company of Kirkuk Limited (BP ECKL), while Turkey’s state-owned TPAO agreed to acquire 15 percent.
On 1 August, Iraq and Turkey signed a one-year agreement to continue transporting crude through the Iraq-Turkiye Pipeline to Ceyhan, covering about 750,000 bpd of capacity while negotiations continue over a broader framework.
Actual northern exports remain well below that level. Reports said this month that flows through the route had fallen to around 130,000 bpd because of production suspensions in the Kurdistan Region and the halt of some Basrah crude shipments routed north.
(Writing by N Saeed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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