Iraq Signs 25-Year Deal to Boost Ajil Oil Field Production

Iraq has signed a 25-year deal to boost oil and gas production at the Ajil field in northern Salahaddin province. The contract, signed between the North Oil Company (NOC) and Kar Electrical Power Production Trading (KEPPT), aims to increase production rates over the next quarter century.

The Ajil oil field was damaged by ISIS a decade ago but has been gradually restored through various contracts with different companies. Under this new deal, gas production is expected to rise from 135 million standard cubic feet per day to 300, while oil production will increase from 30,000 barrels per day to 40,000.

The Ajil Integrated Project, also run by KEPPT, aims to combine oil, gas, and renewable energy integration to boost operational efficiency and cut environmental impact. This aligns with the Ministry of Oil's strategy to maximize investment in hydrocarbon resources and optimize the utilization of oil and gas field resources.