Iraq Secures 25-Year Deal with KEPPT to Boost Ajil Oil Field Extraction

The Iraqi Prime Minister Ali Faleh Al-Zaidi oversaw the signing of a comprehensive 25-year contract between the state-owned North Oil Company (NOC) and KEPPT to develop the Ajil oil field.

According to the Prime Minister's Media Office, this long-term upstream venture is a strategic component of the Ministry of Oil's master plan to maximize domestic hydrocarbon resources, reduce gas flaring, and provide critical feedstock to the national electricity grid.

The agreement aims to expand gas extraction at the field from 135 million standard cubic feet per day (mscfd) to 300 mscfd, providing essential gas volumes for nearby power generation plants and alleviating the country's persistent power shortages.

Additionally, the contract outlines targets to increase crude extraction capabilities from 30,000 barrels per day to 40,000 barrels per day, enhancing northern production flows managed by NOC.