Townshend and Luaibi sign an agreement at Iraq’s North Oil Company headquarters in Kirkuk.
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BP PLC agreed to help increase crude production at northern Iraq's Kirkuk fields as the government pushed to restore output and exporting capacity after recapturing the oil-rich region from semi-autonomous Kurdish forces in October. Iraqi and BP officials signed an agreement in Kirkuk city Thursday to study ways of boosting capacity at the fields to 700,000-750,000 barrels a day. Kirkuk's oil was discovered by the forebears of BP and France's Total SA in 1927 .Under the agreement, BP will perform surveys and studies necessary to develop Kirkuk's fields and boost their output to as much as 750,000 barrels day, according to an Oil Ministry statement citing Michael Townshend, the head of BP's Middle East business.
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