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ConocoPhillips has confirmed its acquisition of a 42% stake in BP Energy in Kirkuk, Iraq, aimed at supporting the redevelopment of four oil fields in the northern region of the country. The agreement involves developing resources exceeding 3 billion barrels of oil equivalent through the rehabilitation and enhancement of the fields, with additional exploratory potential. This move comes as part of Iraqi Prime Minister Ali al-Zaydi's efforts to attract significant American investments in the oil and energy sectors, especially following the decline in production, finances, and oil resources due to regional tensions. The company expects to sign the agreement during Prime Minister Zaydi's reception in Washington during his official visit to the United States.
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