Al-Zaydi sponsors the signing of a contract for the development and operation of the Ajil oil field between North Oil and KIPET.

Today, Saturday, Prime Minister Ali Faleh Al-Zaydi oversaw the signing ceremony of the contract for the development and operation of the Ajil oil field between North Oil Company and KIPET.

The media office of the Prime Minister stated in a statement received by the News Video Agency that the signing of the contract comes as part of the Ministry of Oil's direction to maximize the investment of hydrocarbon resources and raise oil and gas production rates to support the energy system.

It added that the contract extends for 25 years with the aim of gradually increasing production rates in the field and increasing gas production to 300 million standard cubic feet daily.

It continued that the agreement also aims to increase oil production from 30,000 barrels per day to 40,000 barrels per day.