Iraq has signed a memorandum of understanding (MoU) with UK’s BP in order to increase the output capacity of Kirkuk oil fields, which were returned by government forces in October 2017, an Iraqi Official said, according to Reuters.

The agreement aims to find ways to increase the production capacity to be ranging between 700,000 and 750,000 barrels per day (b/d) of oil, from the current pumping rate estimated at 450,000 b/d, Bloomberg reported.

According to the agreement, BP will be responsible for conducting studies and surveys that are necessary to develop the fields and increase their production.