Chevron to sign MOUs with Iraq for West Qurna 2 and Nassiriya oilfields
Chevron’s nonbinding deals would advance talks on two major oilfields and pipeline studies that could help Iraq reduce reliance on the Strait of Hormuz.
- On Friday, Chevron Corp. is set to sign memorandums of understanding with the Iraqi government to advance the U.S. oil major's potential entry into the West Qurna-2 and Nassiriya oilfields.
- Iraq seeks to reduce reliance on the Persian Gulf chokepoint after the Strait of Hormuz blockade forced the country to cut oil production by more than 60% during the war.
- Evaluating the revival of the long-defunct 500-mile Kirkuk-Baniyas pipeline, Chevron is exploring projects the U.S. administration supports to link Iraq's oilfields to the Mediterranean Sea.
- Iraqi Prime Minister Ali Al-Zaidi visited Chevron's Houston headquarters on Thursday following his Washington meetings with President Donald Trump earlier this week to discuss energy partnerships.
- Although talks have spanned 12 to 18 months, Chevron cautioned that final agreements remain a 'long ways from the finish line,' signaling lengthy negotiations ahead.
15 Articles
15 Articles
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Chevron to sign MOUs with Iraq for West Qurna 2 and Nassiriya oilfields
Chevron is set to sign memorandums of understanding on Friday with the Iraqi government to advance the U.S. oil major's potential entry into the West Qurna 2 and Nassiriya oilfields, according to a senior Chevron executive.
Chevron Corp. plans to sign agreements with Iraq this Friday that will boost its negotiations on investments in large oil fields, according to a senior executive of the company. The oil company has exclusive talks with Iraq about the West Qurna-2 field, the country’s second largest oil complex, previously operated by Lukoil PJSC, and Nasiriyah, a smaller operation believed to have broad exploration prospects. Agreements are likely not binding, b…
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