The Iraqi Minister of Oil, Bassim Mohammed Khudhair Al-Abadi, has confirmed that the necessary agreements with Chevron for signing the contract for the West Qurna-2 oil field have been completed. According to the minister's announcement, this contract will be signed by the end of the current year.
Development of the West Qurna-2 Oil Field
The West Qurna-2 oil field is one of the largest oil fields in Iraq, with a production capacity of up to 400,000 barrels per day. Chevron, as one of the largest oil companies in the world, will play a key role in the development of this field. This agreement has been reached following negotiations that took place between the two parties in recent months.
Support for American Oil Companies
Al-Abadi further added that the Iraqi Ministry of Oil will fully support American oil companies such as Chevron and ExxonMobil, as well as other active companies in the country. According to him, the extensive experience of these companies in developing oil fields can help improve the state of Iraq's oil industry. He also emphasized the importance of transferring advanced technologies from global companies to Iraq, considering it a reason for the existence of an attractive investment environment in the country.
These agreements also include discussions regarding the Nasiriyah oil field and four other exploratory blocks. Negotiations in this regard are ongoing, and it is expected that with progress in this area, Iraq will be able to get closer to its oil production goals.
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