Peregraf
Iraq’s Ministry of Oil has announced a new strategy to increase the country’s oil production to more than 6 million barrels per day (bpd) by 2029, confirming a final contract agreement with BP to develop key oil fields in Kirkuk.
Speaking to the Iraqi News Agency (INA) on Sunday, Deputy Oil Minister Bassim Mohammed Khudair stated, “The ministry is implementing a clear five-year plan to boost oil and gas production capacity, aiming to surpass 6 million bpd by 2028-2029.”
He explained that the plan includes large-scale exploration projects across multiple governorates, led by the Oil Exploration Company, alongside ongoing drilling and production efforts within six licensing rounds.
Khudair highlighted key projects supporting this goal, particularly the Integrated Gas Development in the south, including the Artawi field, as well as the development of four strategic fields in Kirkuk. He confirmed that an agreement has been reached with BP for the Kirkuk project, with the final contract expected to be signed in the coming days.
He also underscored the growing role of national companies in Iraq’s oil sector, stating that they now handle approximately 70% of operational activities.