(MENAFN- Iraq Business News) By John Lee.
BP ha reportedly finihed it work at Iraq' giant Kirkuk oilfield .
According to Reuter, ource confirmed that the deciion followed the expiration of it $100-million exploration contract at the end of December, at which point there wa no agreement on the field' expanion.
It quote a ource at BP a aying:
'In 2013, BP igned a letter of intent (LOI) with the North Oil Company of the Iraq Minitry of Oil to upport field activity tudie in Kirkuk. A planned, in December 2019 BP completed field work, tudie and recommendation."
Another ource aid that the reult of the tudy were "below expectation" and "not encouraging for BP to extend it operation.'
Full report here.
(Source: Reuter)
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