Türkiye Petrolleri Anonim Ortaklığı (TPAO) has agreed with bp to acquire a 15% stake in BP Energy Company of Kirkuk (BP ECKL), expanding its involvement in the redevelopment of major oil and gas fields in northern Iraq’s Kirkuk region.
The agreement was finalised during the official visit of Iraqi Prime Minister Ali Al-Zaidi to Türkiye.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The development follows a similar transaction in which ConocoPhillips obtained a 42% stake in BP ECKL.
After completion of the new transaction, bp will retain a 43% share and remain the majority shareholder in the partnership.
BP ECKL operates under a development and production contract (DPC) that covers oil and gas production from the Baba and Avanah domes of the Kirkuk oilfield, as well as the adjoining Bai Hassan, Jambur and Khabbaz fields.
These sites are currently managed by North Oil Company and North Gas Company in Iraq.
The contract foresees an initial production phase exceeding three billion barrels of oil equivalent, with additional exploration opportunities possible in the contract area.
The Kirkuk agreement between bp and TPAO builds on a memorandum of understanding signed by the two parties in February 2026 to enhance strategic cooperation.
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.
“This agreement builds on that long-standing relationship and, alongside our partnership with ConocoPhillips, positions us strongly for the next phase of redevelopment in Kirkuk.
“Kirkuk is a world-class resource base that can support Iraq’s long-term energy ambitions, and we look forward to working closely with the Government of Iraq and our partners to deliver the next phase of redevelopment.”
This latest deal supports bp’s capital allocation strategy by involving partners with varied expertise for the upcoming stage of Kirkuk’s redevelopment.
BP has had a presence in Iraq for more than 100 years, with extensive experience in oil and gas projects across both the northern and southern regions of the country.
