bp adds TPAO as 15% partner in Kirkuk redevelopment

Deal and context

bp and Türkiye Petrolleri Anon Ortaklığı (TPAO) have agreed terms for TPAO to acquire a 15% interest in BP Energy Company of Kirkuk Limited (BP ECKL). The agreement was signed during the official visit of Iraqi Prime Minister Ali Al‑Zaidi to Türkiye and builds on a strategic cooperation Memorandum of Understanding between bp and TPAO signed in February 2026. The transaction follows ConocoPhillips’ previously announced 42% acquisition in BP ECKL.

Asset scope

The Development and Production Contract covers an initial production phase targeting more than 3 billion barrels of oil equivalent from the Baba and Avanah domes of the Kirkuk oil field and the adjacent Bai Hassan, Jambur and Khabbaz fields in Federal Iraq. The contract area also includes additional exploration potential. These assets are currently operated by the North Oil Company (NOC) and North Gas Company (NGC).

Ownership and role

Following completion of the transaction bp will remain the majority shareholder and a key participant in BP ECKL, with a 43% stake alongside ConocoPhillips (42%) and TPAO (15%). bp describes the partner mix as aligned with its disciplined capital allocation approach and complementary capabilities for the next phase of redevelopment.

Executive comment

bp chief executive Meg O’Neill referenced a more than 30‑year partnership with TPAO in the Caspian region and said the agreement, alongside the ConocoPhillips partnership, positions the group for the next phase of Kirkuk redevelopment to support Iraq’s long‑term energy ambitions while working with the Government of Iraq and partners to deliver redevelopment.