Iraq and BP Finalize Contracts to Develop 4 Fields in Kirkuk

Iraq’s Prime Minister Mohammed Shia Al-Sudani and the BP delegation at the signing ceremony on Wednesday (INA) 
Iraq’s Prime Minister Mohammed Shia Al-Sudani and the BP delegation at the signing ceremony on Wednesday (INA) 
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Iraq and BP Finalize Contracts to Develop 4 Fields in Kirkuk

Iraq’s Prime Minister Mohammed Shia Al-Sudani and the BP delegation at the signing ceremony on Wednesday (INA) 
Iraq’s Prime Minister Mohammed Shia Al-Sudani and the BP delegation at the signing ceremony on Wednesday (INA) 

Iraq, on Wednesday, finalized a contract with the London-based oil major, BP, for the development and production of four Kirkuk oil fields.

The project is a breakthrough for Iraq, where output has been constrained by years of war, corruption and sectarian tensions, and a cornerstone of BP’s drive to refocus on its oil and gas business and away from renewables, according to Reuters.

Tuesday’s signing of a final agreement on the project between BP CEO Murray Auchincloss and Iraq’s Prime Minister Mohammed Shia Al-Sudani follows an initial deal signed last month and a memorandum of understanding last year.

According to a statement from the Iraqi Prime Minister’s office, a contract was signed between the Ministry of Oil and the British company BP regarding the development and production project for the four Kirkuk oil fields, namely Kirkuk with its two domes Baba and Avana, Bai Hassan, Jambur, and Khabbaz.

The ceremony was attended by Hayan Abdul Ghani, Deputy PM for Energy Affairs and Minister of Oil, and BP chief executive Murray Auchincloss, together with Nader Zaki, BP regional president for Middle East and North Africa, and Zaid Elyaseri, BP President Iraq.

The project, according to the statement, includes “the rehabilitation and development of the four fields to enhance hydrocarbon reserves, increase crude oil production rates with the goal of reaching a peak production rate of 420,000 barrels per day, and invest in associated gas by rehabilitating and expanding the North Gas Company's facilities to produce 400 million standard cubic feet per day, and constructing a power plant with a capacity of 400 megawatts.”

Also, the project will contribute to stopping the continued burning of gas associated with crude oil production by utilizing it optimally, providing the fuel needed for power plants, and absorbing a workforce of various specialties and developing the technical and engineering cadres working there, the statement said.

The first phase of the redevelopment of the Kirkuk fields, which BP first helped to discover in the 1920s, will cover their Baba and Avanah domes and three adjacent fields Bai Hassan, Jambur and Khabbaz, BP said.

 

 



Diriyah Company Awards Major Contract for Landmark Arena Project

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
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Diriyah Company Awards Major Contract for Landmark Arena Project

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)

Saudi Arabia’s Diriyah Company has awarded a contract worth SAR5.75 billion to the branch of China Harbour Engineering Company Ltd. for the construction works of the Arena Block, a district that includes the multi-purpose indoor Diriyah Arena, three mixed-use office buildings, and a parking facility.

Diriyah Arena will have a gross floor area of approximately 74,000 square meters and is designed as a flexible and scalable venue to accommodate events such as concerts, sporting events, esports competitions, exhibitions, and live shows, said a statement from Diriyah Company on Wednesday. With a seating capacity of 20,000 spectators, it aims to attract residents and visitors from around the world.

Designed by the renowned global architecture firm HKS Inc., the Diriyah Arena’s design draws inspiration from the natural geology surrounding Diriyah, while honoring traditional Najdi architectural elements, to create a harmonious blend of heritage and modernity.

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events, fostering a sense of community spirit, and contributing to the overall well-being of the area.

In addition to the Diriyah Arena, the Arena Block development will include three mixed-use office plots designed by international architects John McAslan + Partners, covering approximately 114,000 square meters, supported by state-of-the-art technology and infrastructure. The contract also includes over 4,000 parking spaces to support both Diriyah Arena events and office facilities.

Diriyah Company Group CEO Jerry Inzerillo stated: “The Diriyah Arena will be a landmark entertainment complex in Diriyah that reinforces the City of Earth’s growing global role in shaping Saudi Arabia’s artistic and cultural future, in alignment with Vision 2030.”

“By attracting both residents and global visitors to experience world-class sports and performances, the Diriyah Arena firmly demonstrates our commitment to creating a world-leading gathering place,” he added.

General manager of China Harbour Engineering Company Ltd. (Middle East) Yang Zhiyuan said: “This award marks a significant milestone for CHEC in the Kingdom. CHEC will bring to the project a wealth of global experience, technical expertise, and a proven track record of delivering successful projects.”

“We will mobilize the best resources and talents from across our international network and strive for excellence to ensure the successful and timely delivery of this world-class Arena. We will continue to deliver excellence in support of Vision 2030. We are deeply proud to be part of this initiative,” he remarked.

The contract is the latest in a series of major announcements so far in 2025 as Diriyah Company continues to accelerate its development program for Diriyah, realizing milestone after milestone.

The Diriyah Arena will join world-class cultural and entertainment assets in Diriyah, including the Royal Diriyah Opera House, nine museums, and academies, all featuring Najdi architectural elements inspired by the At-Turaif UNESCO World Heritage Site.