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25-01-20
Iraqi oil ministry decides not to renew BP's field study contract
(MENAFN) Iraqi oil ministry's spokesperson Asim Jihad said that, over the disappointing results and the Iraqi oil ministry's decision not to renew the British energy giant BP's field study contract, the British energy BP has withdrawn from Iraq's Kirkuk oilfield.
The field study and development contract were not renewed by the ministry because BP's field development studies were not as expected and were not good enough for BP to expand its operations, as said by Jihad.
BP and Iraq's oil ministry agreed in 2013 to help field activity studies in Kirkuk where Iraq's North Oil Company (NOC) oversees.
But, the agreement couldn't be executed because of continuing activities of Daesh/ISIS terrorist group in the country.
MENAFN2501202000450000ID1099601279
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