Turkey and Iraq announce energy cooperation deal and Kirkuk oil participation

Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Ali al-Zaidi announced a significant new energy cooperation agreement during high-level meetings in Ankara on July 29, 2026. A central component of the deal involves the Turkish state-owned oil company, TPAO, acquiring a 15% stake in the BP Energy Company of Kirkuk Limited (BP ECKL), marking a strategic entry for Turkey into the Iraqi oil fields of Kirkuk. The companies involved in the broader regional framework include TPAO, BP, and ConocoPhillips.

This agreement follows the expiration of the previous 1975 Turkey-Iraq energy treaty on July 27. Amid rising regional tensions near the Strait of Hormuz, the two nations are moving to solidify their energy ties. President Erdogan confirmed that Prime Minister al-Zaidi has offered to supply Turkey with 1 million barrels of oil per day, a volume which Turkish officials stated would effectively meet the country's energy needs. Both leaders characterized the move as a historic step for regional cooperation, intending to replace previous pipeline arrangements with a more comprehensive, mutually beneficial framework.