Iraq concludes five largest oil deals in a month
Iraq concludes five largest oil deals in a month
2025-04-03 03:53
Shafaq News/ Iraq topped the list of the top five oil deals in March 2025, thanks to an agreement with the British oil company BP to develop four oil fields in Kirkuk Governorate, which is expected to add approximately 150,000 barrels per day to the country’s production capacity.
For the second consecutive month, Iraq topped the list of the top five oil deals for March 2025, thanks to its efforts to develop more oil fields in cooperation with foreign companies, according to the monthly report issued by the Washington-based Energy Platform.
According to the specialized “Energy Platform,” the British company will invest approximately $25 billion in developing Iraq’s four oil fields. This amount includes investments in oil, gas, energy, and water.
This deal will bring BP back into the development of Iraq’s massive crude oil reserves after a six-year absence. The company withdrew from the Kirkuk field in late 2019 after its 2013 service contract expired without reaching an agreement on the field’s expansion.
Iraq witnessed a technology deal to use robots to detect faults in oil pipelines, cementing its position at the top of the list of the top five oil deals in March 2025. The new technologies will enable the detection of rust and its locations, in addition to providing other services such as pipeline cleaning and painting.
According to a statement obtained by the Washington-based Energy Platform, the Iraqi Central Oil Company signed the agreement with EBS, the Chinese company operating the East Baghdad South field, as part of Baghdad’s efforts to develop pipeline monitoring and maintenance operations.
Iraq, along with Saudi Arabia, topped the list of crude oil deals in February 2025. These deals ranged from agreements to export, buy, and sell crude oil, to deals to acquire stakes in projects, as well as to establish mega-projects.
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