Iraq signs a 25-year agreement with Keppt to develop and increase production at the Ajil oil field

The Iraqi cabinet issued an announcement stating that the country has signed a development cooperation agreement with Keppt to develop the oil and gas production capacity of the Ajil oilfield in the north. This 25-year cooperation contract sets clear production increase targets: raising the daily crude oil output of the oilfield from the current 30,000 barrels to 40,000 barrels, and increasing the associated gas daily production from 135 million standard cubic feet to 300 million standard cubic feet. The implementation of this oilfield development cooperation will further help Iraq tap the oil and gas resource potential in the northern region and play a positive role in enhancing the country’s energy industry capacity and stabilizing energy supply.