SANDY INGRAM: How BP is affecting investment in IQD #iqd, 9 APRIL

 SANDY INGRAM: How BP is affecting investment in IQD #iqd

Despite facing political upheavals and temporary exits from Iraq, BP returned in 2009 with a renewed commitment to help rebuild the country’s oil industry. 

The focus of BP’s investment goes beyond mere extraction; it includes infrastructure development, employee training, and fostering local partnerships to ensure positive, sustainable economic impacts. Central to this effort is the enormous Rumila oil field, one of the largest in the world, containing an estimated 17 billion barrels of recoverable oil. 

BP’s collaboration with various international firms and local businesses promotes efficient and environmentally responsible practices in oil extraction.

The economic implications of BP’s activities are profound. The revenue from oil production significantly contributes to public services and infrastructure development, improving the overall quality of life in Iraq.

 Additionally, BP’s presence creates thousands of jobs and aids in modernizing Iraq’s refinement capacities, thus boosting the local economy and strengthening the Iraqi dinar. The video emphasizes that BP’s strategic investments and projects not only contribute to the company’s growth but also play a vital role in Iraq’s journey towards becoming a robust player in the global energy market.

Highlights

• 🌍 BP’s Historic Presence: BP has been engaged in the Iraqi oil industry since the 1920s, establishing a long-term partnership that shapes the country’s economy today.
• 🚀 Kirkuk Oil Field Discovery: The discovery of the Kirkuk oil field was pivotal, transforming Iraq into a notable player in the global oil market and significantly impacting its economic development.
• 🔄 BP’s Return Post-2009: After a hiatus, BP returned to Iraq in 2009 with advanced technology and expertise to rebuild its oil sector, committed to Iraq’s economic recovery.
• 🏗️ Rumila Oil Field Project: The Rumila oil field development is one of the largest oil operations globally, projected to have profound impacts on Iraq’s economy and the global oil supply.