06/08/2026 by Jay Hatton
UK-based BP has agreed to sell a 15% interest in BP Energy Company of Kirkuk Limited (BP ECKL) to Türkiye Petrolleri Anonim Ortaklığı (TPAO).
The announcement follows a similar deal that will, subject to regulatory approval, see ConocoPhillips purchase a 42% interest in BP ECKL. It therefore widens the partnership for redeveloping a number of prominent fields in the Kirkuk region of Iraq. BP, which also makes Castrol products for engineering and manufacturing, says this will bring together parties with complimentary competencies for the project.
BP itself has a history with Iraq dating back more than 100 years, both in the north and south of the country. The agreement also reflects BP’s recent drive to exercise more discipline in its capital allocation.
Meg O’Neill, the chief executive officer of BP, said the company has worked in partnership with TPAO through the Caspian region for over three decades. She said the new agreement:
“…alongside our partnership with ConocoPhillips positions us strongly for the next phase of redevelopment in Kirkuk. Kirkuk is a world-class resource base that can support Iraq’s long-term energy ambitions, and we look forward to working closely with the Government of Iraq and our partners to deliver the next phase of redevelopment.”
The first phase of the development and production contract covers more than 3 billion barrels of oil equivalent in oil and gas production. There is also potential for further exploration in the contract area. BP will remain a key participant and the largest shareholder with a 43% interest.
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