Iraqi Prime Minister Ali Faleh Al-Zaidi attended the official signing of a 25-year agreement to develop and operate the Ajil oil field. The deal was signed between the state-owned North Oil Company (NOC) and KEPPT and is considered an important step in Iraq’s long-term energy strategy.
According to the Prime Minister’s Media Office, the project is part of the Ministry of Oil’s plan to make better use of the country’s oil and gas resources, reduce gas flaring, and provide more fuel for electricity generation.
The development plan will be carried out in phases and will focus heavily on increasing natural gas production. Gas output is expected to rise from about 135 million standard cubic feet per day to 300 million cubic feet per day. This increase is expected to supply nearby power plants with more domestic gas and help reduce Iraq’s ongoing electricity shortages.
The agreement also aims to increase oil production from the field. Crude oil output is planned to grow from 30,000 barrels per day to 40,000 barrels per day over time.
Officials say the project will strengthen oil and gas production in northern Iraq, improve energy supplies, and bring additional technical expertise and investment into the country’s energy sector.
