10:00 - 18.07.2026

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July 18, Fineko/abc.az. US energy giant ConocoPhillips has reached an agreement to acquire a 42% stake in British major BP’s regional subsidiary, "BP Energy Company of Kirkuk Limited," to support the redevelopment of four major oil fields in northern Iraq.

The entity holds the development and production contracts for the historically high-yielding Baba and Avanah domes of the Kirkuk field, alongside the Bai Hassan, Jambur, and Khabbaz fields.

The strategic transaction is expected to be officially signed during Iraqi Prime Minister Ali al-Zaidi’s official visit to Washington. Following regulatory approvals and customary closing conditions, the deal is projected to be fully completed by the end of 2026.