Türkiye Petrolleri Anonim Ortaklığı (TPAO) is set to take a 15% stake in BP Energy Company of Kirkuk Limited (BP ECKL), the company created by BP to help redevelop major oil and gas fields in Iraq’s Kirkuk region.
According to BP, the agreement follows a strategic cooperation deal signed between the two companies in February 2026.
The deal was signed during Iraqi Prime Minister Ali al-Zaidi’s official visit to Türkiye. It comes after ConocoPhillips announced its purchase of a 42% share in BP ECKL. Once the agreements are completed, BP will remain the largest shareholder with a 43% stake, while ConocoPhillips will hold 42% and TPAO will own 15%.
The development and production agreement covers the first stage of a major project expected to produce more than 3 billion barrels of oil equivalent. The project includes the Baba and Avanah areas of the Kirkuk oil field, along with the nearby Bai Hassan, Jambur, and Khabbaz fields.
The fields are currently managed by Iraq’s North Oil Company (NOC) and North Gas Company (NGC).
BP CEO Meg O’Neill said the agreement strengthens the company’s long partnership with TPAO, which has lasted more than 30 years in the Caspian region. She added that the deal puts BP in a strong position for the next stage of Kirkuk’s oil and gas redevelopment.
