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BP sells stake in Kirkuk to Türkiye’s national oil and gas company
['Erikka Askeland']
Energy Voice
BP has sold a further stake in its oil and gas fields in the Kirkuk region of northern Iraq, this time to Türkiye’s national oil company, Türkiye Petrolleri Anonim Ortaklığı (TPAO).
The deal comes hot on the heels of the UK-listed firm’s deal with US peer ConocoPhillips to sell a 42% interest in its regional business, BP Energy Company of Kirkuk Limited (BP ECKL).
The fields are currently operated by the North Oil Company (NOC) and North Gas Company (NGC).
BP said it will remain the majority shareholder and a key participant in BP ECKL, retaining a 43% stake.
BP CEO Meg O’Neill said: “TPAO has been a trusted partner for more than 30 years through our work together across the Caspian region.