A million barrels of oil per day: Erdogan signs mega deal with Iraq

Turkish President Erdogan and Iraqi Prime Minister Ali al-Zaidi signed a strategic energy agreement, under which Turkey may receive up to one million barrels of oil per day. The deal includes a partnership in the Kirkuk oil field with BP and advancing the 'Development Road' infrastructure project to connect the Gulf to global markets.

Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Ali al-Zaidi signed a broad strategic energy agreement in Ankara. Under the deal, Iraq offered to supply Turkey with up to one million barrels of oil per day – a quantity that would significantly reduce Ankara's dependence on external energy sources. The agreement replaces the old Kirkuk-Ceyhan oil pipeline that had expired. The highlight is the partnership of the Turkish state oil company in the historic Kirkuk oil field, together with British energy giant BP. Erdogan called the agreement 'a historic step in energy cooperation.' The leaders also advanced the 'Development Road Project' – a massive infrastructure and transportation initiative to connect the Persian Gulf to global markets through Iraq and Turkey. Al-Zaidi said, 'Geography gave us two rivers, and now we want a third river – a river of economy.' The sides also discussed security cooperation, counterterrorism, and water and education issues. According to a report by the Anadolu network, the meeting aimed to establish deep economic integration and geopolitical stability.