BP agrees to sell 15% stake in Kirkuk redevelopment venture to Turkey’s TPAO

• BP agreed terms for Türkiye’s TPAO to buy a 15% stake in BP Energy Company of Kirkuk, expanding the Kirkuk redevelopment partnership.
• Deal follows ConocoPhillips’ previously announced 42% stake purchase, part of BP’s capital discipline strategy via partner sell-downs.
• Post-transaction ownership: BP 43%, ConocoPhillips 42%, TPAO 15%.
• Development and Production Contract targets an initial phase of more than 3 billion boe across the Kirkuk field’s Baba and Avanah domes.
• Project scope also covers adjacent northern Iraq fields, currently operated by Iraq’s North Oil Company and North Gas Company.

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