BAGHDAD, Feb. 25 (Xinhua) -- Iraq signed an agreement with British oil giant BP on Tuesday to rehabilitate and develop four major oil fields in Iraq's northern province of Kirkuk.
Iraqi Prime Minister Mohammed Shia' al-Sudani attended the signing ceremony of the agreement between the state-owned North Oil Company and BP, according to a statement issued by al-Sudani's media office.
The agreement covers the development of the Bai Hassan, Avana, Chamabor and Khabbaz oil fields, and the utilization of associated gas, the statement said.
It also involves the rehabilitation and expansion of gas facilities at the North Gas Company and the establishment of a 400-megawatt power plant, the statement added.
Iraq's economy heavily relies on crude oil exports, which account for about 90 percent of the country's revenues.
