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Iraq News / Iraq Dinar
More good things happening!
BP Returns to Kirkuk with Profit-Sharing Deal
After a nearly five-year absence, BP is making a comeback in Iraq's Kirkuk oil fields under a new profit-sharing model.
The preliminary agreement, signed earlier this month, marks a shift from low-margin service contracts to more lucrative terms, aiming to boost production and attract Western oil majors back to Iraq.
The Kirkuk field, estimated to hold around 9 billion barrels of recoverable oil, is set to see significant developments, with a final deal expected by the end of the year.
Stay tuned for updates as BP and Iraq finalize this major oil deal!
