Turkey Takes 15% of Kirkuk Oil in New Iraq Deal

Turkey Takes 15% of Kirkuk Oil in New Iraq Deal

Turkey has secured a 15% stake in Iraq’s Kirkuk oil fields as part of a landmark energy agreement, ending the 1973 pipeline deal and opening the door for up to 1 million barrels of oil per day.

· 2 min read ·
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Turkish state oil company Turkish Petroleum has been granted a partnership in the Kirkuk oil production field, a move President Recep Tayyip Erdogan called a “historic step” in bilateral energy cooperation [206012]. The project covers some of Iraq’s largest oil fields and contains more than 3 billion barrels of oil equivalent resources [206004]. The agreement replaces the 1973 Iraq-Turkey oil pipeline arrangement, with Turkey now partnering with BP in the field [206957].

Iraqi Prime Minister Ali al-Zaidi confirmed that Iraq can supply Turkey with 1 million barrels of oil per day, signaling closer energy and economic cooperation between the two neighbors [206011]. Analysts caution that the promise of that daily volume remains political until actual loadings increase [206957].

The energy deal was part of a broader push for closer ties. During a ceremony at the Turkish Presidential Palace, Iraq’s Transport Minister initially refused to sign the “Development Road Project” agreement, but after intervention by the Iraqi Prime Minister, he eventually signed, leading to five separate agreements between the two countries [206651]. Turkish President Recep Tayyip Erdogan announced the signing of the five pacts, covering trade, energy, and security, saying, “Before you we have just signed documents that will enhance our relations” [205992].

The agreements also include a pledge to accelerate the “Development Road” project, a strategic initiative aimed at connecting the Persian Gulf to Europe through Iraq and Turkey [205892]. Officials from both countries stated the project will boost regional trade and create new economic opportunities [205892]. Turkish Foreign Minister Hakan Fidan also met with his Iraqi counterpart in Ankara, focusing on strengthening bilateral projects and regional cooperation, including security details that were not disclosed [206006].

Sources

Turkey Takes 15% of Kirkuk Oil in New Iraq Deal #206957**Türkiye wins stake in Kirkuk oil field in landmark Iraq deal** #206012**Türkiye secures 3 billion barrels in Iraq oil deal** #206004Iraq offers Türkiye 1 million barrels of oil per day #206011**Iraqi Minister Refuses to Sign, Then Agrees: Turkey and Iraq Seal 5 Deals** #206651**Turkey and Iraq Sign Deals to Speed Up Key Trade Route** #205892**Türkiye and Iraq sign 5 deals to boost trade and security** #205992Iraq and Turkey: Energy and Security Deal on the Table? #206006

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