Iraq has signed a principles agreement with Chevron for major oil exploration and development projects. Prime Minister Mohammed Shiaa Al-Sudani personally welcomed the deal, underlining Iraq’s determination to attract global investors into its energy sector.
The agreement includes the Nasiriyah Project, which covers four exploration blocks. It also involves the development of the Balad oil field along with several producing fields and exploration areas. This step strengthens Iraq’s energy ambitions and creates new opportunities for foreign partnerships.
During his meeting with Chevron Vice President Frank Mount, Al-Sudani highlighted Iraq’s new approach to global cooperation. He stressed that Iraq wants to build stronger ties with major international oil companies, particularly American firms. Moreover, he praised Chevron for its track record in technology transfer, community engagement, and sustainable energy practices.
The Prime Minister emphasized Iraq’s strategic partnership with the United States. He explained that Iraq aims to boost oil production, increase refining capacity, and improve gas development. In addition, he stated that the government will introduce advanced technologies to modernize the energy sector.
Frank Mount reaffirmed Chevron’s commitment to Iraq. He said Chevron views Iraq as a country with enormous natural resources and skilled human potential. He also noted that Iraq offers a more stable environment for long-term investments. Furthermore, he confirmed that Chevron will provide modern technologies and global expertise to support Iraq’s energy growth.
This cooperation marks a fresh stage in Iraq’s energy policy. It signals stronger engagement with global firms while ensuring that oil exploration in Iraq aligns with international standards. The government wants to create a transparent, investment-friendly environment where companies like Chevron can thrive.
Additionally, this agreement highlights Iraq’s focus on future energy sustainability. By working with leading firms, Iraq hopes to reduce waste, improve gas utilization, and expand refining capacity. Therefore, Iraq continues to position itself as a vital energy hub in the region.
Iraq’s collaboration with Chevron will likely encourage other international companies to return. With global expertise and advanced technologies, Iraq aims to increase production and boost exports. As a result, this deal not only strengthens Iraq’s oil industry but also enhances its role in global energy markets.
