North Oil Company signed a contract with an American company to develop the Hamrin field with a production capacity of 140,000 barrels per day.
North Oil Company signed a contract with an American company to develop the Hamrin field with a production capacity of 140,000 barrels per day.
2026-07-09
Shafaq News – Baghdad
North Oil Company signed a contract on Thursday to develop the Hamrin field with the American company HKN, as part of the Iraqi Ministry of Oil’s plans to invest in oil fields with the aim of increasing oil and gas production rates.
Oil Minister Bassem Mohammed Khudair Al-Abadi, during his sponsorship and attendance at the contract signing ceremony, confirmed that signing the contract with the company comes in line with the government’s vision and strategy for optimal investment in oil and gas, and in a way that secures the required needs for domestic uses and increases export rates.
He pointed out that the peak production rate of the field, according to the contract, will reach 140,000 barrels, and gas production at a rate of 40 million cubic meters, explaining that these quantities of gas will not be burned, but will be used for energy purposes in the field, and what is surplus to it will be used for injection purposes to support the reservoir pressure of the field.
Al-Abadi added that the government’s vision today is to attract major international companies, especially American and European ones, to invest in oil and gas according to the best international standards and criteria. He noted that the field will provide employment for Iraqi workers and local companies, stressing that the ministry will provide support to the company, and that signing the contract is a message to all international companies that the investment environment in Iraq is an attractive environment for investment.
shafaq.com
