BP Pulls Out of Kirkuk Oilfield in Iraq

Date : 01/21/2020 @ 1:22PM
Source : Dow Jones News
Stock : BP Plc (BP)
Quote : 36.0  -0.18 (-0.50%) @ 12:59AM
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BP Pulls Out of Kirkuk Oilfield in Iraq

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   By Giulia Petroni 

BP PLC (BP.LN) has pulled out of Iraq's Kirkuk oilfield after its exploration contract expired at the end of 2019, a company spokesman said on Tuesday.

The U.K.-based oil major signed an agreement with Iraq's state-owned North Oil Company in 2013 to provide technical assistance in the oilfield based in northern Iraq.

"As planned, in December 2019 BP completed field work, studies and recommendations," BP said in statement.

The field is estimated to contain about 9 billion barrels of oil, according to BP.

The news was first reported by Reuters.


Write to Giulia Petroni at giulia.petroni@wsj.com


(END) Dow Jones Newswires

January 21, 2020 08:07 ET (13:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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