21:33 - 29.07.2026

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July 29, Fineko/abc.az. Turkish state oil company TPAO has acquired a 15% stake in BP Energy Company of Kirkuk Limited, which is involved in developing major oil fields in northern Iraq, according to a statement by Turkey’s Ministry of Energy and Natural Resources.

Following the acquisition, TPAO joins a consortium alongside BP and ConocoPhillips. The partners aim to expand operations and boost output across fields with estimated resources exceeding 3 billion barrels of oil equivalent.

The project encompasses the Kirkuk field (specifically the Baba and Avana domes), as well as the Bai Hassan, Jambur, and Khabbaz fields. Development is being conducted under a master agreement established between Iraq and BP in 2018.

Crude oil from these fields is exported via the Kirkuk–Ceyhan pipeline, connecting northern Iraq to Turkey’s Mediterranean port.