Oil major BP is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win back foreign investment.

BP (NYSE:BP), the oil giant, is projected to invest between $20 billion and $25 billion in the redevelopment of four oil and gas fields in Kirkuk, according to a Tuesday report by Reuters. This investment,

Baghdad and BP's negotiations over a major deal to redevelop Kirkuk's oil and gas fields must include Iraq's semi-autonomous Kurdish region, the Kurdish Prime Minister told Reuters, flagging a potential conflict with the central government.