A senior executive at the American energy company Chevron announced that the company will sign memorandums of understanding on Friday with the Iraqi government with the aim of strengthening its cooperation in the “West Qurna 2” and “Nasiriyah” oil fields.
The official explained that Chevron is at the same time continuing its discussions with Baghdad to conduct technical studies and evaluate available options for establishing paths for new pipelines aimed at transporting crude oil out of Iraq and bypassing the Strait of Hormuz.
This came during the visit of Iraqi Prime Minister Ali al-Zaidi to Chevron headquarters in Houston, Texas, today, Thursday, as part of an official visit to the United States that lasted five days, which included a meeting with US President Donald Trump on Tuesday, according to Reuters.
The Iraqi government seeks to expand its cooperation with American companies in the energy sector, with the aim of supporting its plans to increase oil production and enhance investments in this vital sector.
Last February, Chevron entered exclusive negotiations with Iraq regarding the development of the “West Qurna 2” field, which is considered one of the largest oil fields in the world, and its current production is about 460 thousand barrels per day.
The executive said that the anticipated memorandum of understanding will contribute to defining the commercial framework for the project, and paves the way for reaching a final agreement that gives Chevron a role in managing and developing the field.
Last August, Chevron and the Iraqi government signed a preliminary agreement to develop the “Nasiriyah” oil field project, which includes four exploration sectors, along with plans to develop a number of other productive oil fields.
