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BP nears deals for oil fields, curbs on gas flaring in Iraq

BP is close to finalizing agreements with Iraq to develop significant oil and gas fields, aiming to enhance production and reduce environmental impact through decreased gas flaring. The deals include the development of the Rumaila and Majnoon fields, with a focus on capturing associated gas that would otherwise be flared, thereby reducing emissions. This initiative aligns with Iraq's broader strategy to increase its oil production capacity and address environmental concerns. The agreements are part of a larger effort to modernize Iraq's energy sector, involving investments in infrastructure to process and utilize the gas, potentially transforming it into electricity or exporting it as LNG. These developments are crucial for Iraq, which is looking to diversify its energy sources and improve its environmental footprint while maintaining its position as a key player in global oil markets.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/politics/government/bp-nears-deals-for-oil-fields-curbs-on-gas-flaring-in-iraq/ar-AA1xeATM ]