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BP interested in redeveloping Kirkuk oil field, Iraq says

  • Iraq's oil minister confirms BP is interested in getting involved in the redevelopment of the country's Kirkuk oil field, where production has declined to 260K bbl/day from 900K bbl/day in the early 2000s.
  • He denies reports of Russia's Lukoil (LUKOY.PK, LUKOF.PK) showing any interest in the redevelopment of Kirkuk.
  • Also, the minister says Exxon Mobil (XOM) has sought government approval to sell 35% of its stake in the West Qurna-1 field, and the government likely will approve the sale.
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