Iraqi Prime Minister with officials. Image courtesy: IraqiNews
Iraq has signed an agreement in principle with US oil major Chevron for the Nassiriya project, which includes four exploration blocks, reports said.
Iraqi Prime Minister Mohammed Shia Al-Sudani attended the signing of a principles agreement between the Ministry of Oil and Chevron.
Apart from the Nasiriyah Project, the agreement also covers development of the Balad oil field in central Iraq, and other potential fields and projects, said an IraqiNews report.
In Baghdad, Al-Sudani met with Chevron Vice President Frank Mount and his delegation, welcoming the company’s return to Iraq.
Al-Sudani emphasised the government’s new approach to working with major international oil firms, particularly American companies, citing Chevron’s role in technology transfer, job creation, and environmental standards.
The agreement reflects Iraq’s aim to reinforce its strategic partnership with the United States while advancing investment in oil production, refining, and gas utilisation, the report added.