Turkish Petroleum (TPAO) and BP have agreed to strengthen Iraq oil cooperation through a new strategic partnership. The memorandum of understanding, signed this week, outlines plans to jointly develop oil and gas resources.
The signing took place in Iraq, with TPAO General Manager Cem Erdem and BP Head of Global Oil and Gas Business Development Andrew McAuslan leading the agreement. Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar, attended the ceremony and highlighted its importance for regional energy growth.
The MoU establishes a clear framework for Iraq oil cooperation. Both companies will focus on developing oil and natural gas fields in the country. They also plan to assess areas with high exploration potential. Additionally, the agreement includes collaboration on oil export capacities and natural gas transport infrastructure at regional and international levels.
Minister Bayraktar emphasized that Iraq will remain the priority for this cooperation. He mentioned that the strategy targets production growth in Iraqi oil and gas fields. TPAO aims to reach approximately 500,000 barrels of oil and natural gas per day by 2028. The long-term goal is to increase output to one million barrels per day.
This MoU follows a series of deals by TPAO to strengthen its international presence. Recent agreements with major companies have expanded its exploration and production capabilities. Through these partnerships, TPAO aims to enhance both efficiency and output in critical regions like Iraq.
BP has also been active in Iraq, with contracts to develop multiple oilfields in Kirkuk. By joining forces with TPAO, BP can leverage local expertise while sharing technology and resources. Both companies will coordinate closely to meet production goals while ensuring sustainable development practices.
Analysts see this MoU as a significant step for Iraq oil cooperation. It reflects a trend of increased strategic partnerships in the Middle East, combining local knowledge with global investment. With coordinated planning and infrastructure projects, TPAO and BP aim to boost oil and gas output significantly.
Overall, this agreement marks a promising chapter for Iraq oil cooperation. It strengthens ties between two major energy companies and supports Iraq’s growing role in global energy markets. The partnership emphasizes innovation, efficiency, and long-term development in the country’s energy sector.
