{"id":211060,"date":"2026-07-17T14:34:09","date_gmt":"2026-07-17T14:34:09","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/211060\/"},"modified":"2026-07-17T14:34:09","modified_gmt":"2026-07-17T14:34:09","slug":"bp-conocophillips-join-on-one-of-iraqs-oldest-oil-fields","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/211060\/","title":{"rendered":"BP, ConocoPhillips join on one of Iraq\u2019s oldest oil fields"},"content":{"rendered":"<p>\n July 17, 2026 9:13 AM, EDT<\/p>\n<p>   An oil drilling rig. (Vincent Mundy\/Bloomberg)<\/p>\n<p>      Key Takeaways:<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/04\/expand.png\" class=\"expand\" title=\"Toggle View of Key Takeaways\" alt=\"Toggle View of Key Takeaways\"\/><br \/>\nBP said ConocoPhillips will acquire 42% of its stake in a venture redeveloping Iraq\u2019s Kirkuk oil fields, with terms undisclosed.The contract covers an initial phase involving more than 3 billion barrels of oil equivalent, supporting Iraq\u2019s effort to revive declining output.The partnership still requires additional work before production advances, while Iraqi officials pursue separate investment agreements with Chevron. <\/p>\n<p>BP Plc said ConocoPhillips will acquire 42% of its stake in a venture that\u2019s redeveloping Iraq\u2019s giant Kirkuk oil fields, a major revival target for the OPEC heavyweight that has experienced output decline since the Iran war began. \u00a0<\/p>\n<p>Financial terms of the partnership, to be signed as part of Iraqi Prime Minister Ali Al-Zaidi\u2019s trip to the U.S. this week, were not disclosed in the company announcements on July 17. The visit is also expected to <a href=\"https:\/\/www.ttnews.com\/articles\/chevron-july-17-deals-iraq\" target=\"_blank\" rel=\"nofollow noopener\">bring a Chevron Corp. signing <\/a>on July 17 that\u00a0will advance\u00a0its negotiations about investing in large oil fields and a pipeline to bypass the Strait of Hormuz.\u00a0\n      \t  \t\t<\/p>\n<p>For BP and ConocoPhillips, their development and production contract covers an initial phase of more than 3 billion barrels of oil equivalent from Kirkuk. The commitment is considered early stage and still requires more work before actual output could be made.<\/p>\n<p>London-based BP has been refocusing on oil and gas, with Iraq seen as important to the company\u2019s fossil fuel investment. The July 17 announcement marks a return to Iraq for Houston-based ConocoPhillips, which left the country more than a decade ago.\n      \t\t<\/p>\n","protected":false},"excerpt":{"rendered":"July 17, 2026 9:13 AM, EDT An oil drilling rig. (Vincent Mundy\/Bloomberg) Key Takeaways: BP said ConocoPhillips will&hellip;\n","protected":false},"author":2,"featured_media":211061,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[14],"tags":[11791,1394,409,94],"class_list":["post-211060","post","type-post","status-publish","format-standard","has-post-thumbnail","category-iraq","tag-bp","tag-chevron","tag-crude-oil","tag-iraq"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116935817119192969","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/211060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=211060"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/211060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/211061"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=211060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=211060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=211060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}