Turkish Petroleum Corporation (TPAO) has acquired a 15% stake in BP Energy Company of Kirkuk Limited (BP ECKL), marking a significant energy cooperation between Turkey and Iraq. The agreement was signed by TPAO General Manager Cem Erdem and BP Vice President for Upstream Business Development Andrew McAuslan at the Turkish Energy and Natural Resources Ministry in Ankara, in the presence of Minister Alparslan Bayraktar.
The project covers the Baba and Avanah domes, as well as the Bai Hassan, Jambur, and Khabbaz fields in Iraq's Kirkuk region. The consortium includes TPAO (15%), BP, and ConocoPhillips.
Estimated hydrocarbon resources in the initial phase of the Kirkuk concession
Turkish President Recep Tayyip Erdogan described the agreement as a historic step, while Energy Minister Bayraktar said it is a major step toward making TPAO a company that produces 1 million barrels of oil and natural gas per day. The signing came a day after the Iraq-Türkiye Crude Oil Pipeline Agreement expired, according to reports.
Bayraktar also met Iraqi Oil Minister Basim Mohammed Khudair and Iraqi Electricity Minister Ali Saadi Waheeb. He stated on social media that Turkey and Iraq reaffirmed their commitment to full use of existing energy infrastructure and discussed projects for oil, natural gas, and electricity transmission.
President Erdogan emphasized the importance of the Development Road Project, which aims to connect the Gulf to global markets through Iraq, and said Turkey is ready to provide Iraq with needed defense industry products. He noted that he and Iraqi Prime Minister Ali al-Zaidi exchanged views on regional developments, particularly Iran, Syria, and Palestine.
Erdogan stressed that Turkey has never viewed Iraq's peace and stability separately from its own, as Iraq has been among countries affected by war and instability. He added that Ankara remains in close dialogue with Iraq to advance its 'terror-free Türkiye' process and 'terror-free region' vision.