BAGHDAD, July 9 (Xinhua) -- Iraq's North Oil Company (NOC) on Thursday signed a contract with U.S.-based company HKN Energy to develop the Hamrin oil field in northern Iraq, the Iraqi Oil Ministry said.
Under the contract, the field's peak production is expected to reach 140,000 barrels per day, with gas production averaging 40 million standard cubic feet per day, the ministry said in a statement.
It noted that the gas would not be flared but would instead be used for energy needs within the field, with surplus gas injected to support the reservoir pressure.
Iraq's economy relies heavily on crude oil exports, which account for about 90 percent of the country's revenues. According to the World Bank, Iraq ranked third globally in associated gas flaring in 2025, behind only Russia and Iran. ■
