BP In Talks For Multi-Billion Dollar Kirkuk Rescue Plan

BP is in talks with Baghdad for a major rehabilitation of Iraq’s Kirkuk field, MEES learns. Kirkuk, long the main stay of Iraqi northern production, has been haemorrhaging capacity for some time, but indications are that the problem has grown more acute over the last year. At one point in 2007-08, a concerted effort by state-owned North Oil Company (NOC) pushed Kirkuk output as high as 400,000 b/d, but by last May it had fallen...