Following the withdrawal of Russia’s Lukoil, a confidentiality agreement was signed between Basra Oil Company and the US’s Chevron.
Following the withdrawal of Russia’s Lukoil, a confidentiality agreement was signed between Basra Oil Company and the US’s Chevron.
2026-07-01
Shafaq News – Basra
Basra Oil Company signed a confidentiality agreement with US company Chevron on Wednesday to regulate the exchange of information for the purpose of evaluating the West Qurna 2 field and negotiating future agreements.
Oil Minister Bassem Mohammed Khudair Al-Abadi, who sponsored the agreement, said in a speech after its signing that the West Qurna 2 field is one of the giant fields, and that the Russian company Lukoil had withdrawn from its development operations. He pointed out that the ministry provides a large space for international companies to invest, including the American company Chevron, stressing the existence of an attractive and safe investment environment, as well as overcoming all obstacles.
He stressed that Iraq aspires to be a leader among countries in terms of production and export, in order to achieve industrial and economic development for the country, noting the ministry’s interest in the interests of international companies operating in Iraq.
Al-Abadi also affirmed the ministry’s commitment to the government’s directives regarding attention to international companies, which are considered partners in developing the oil and gas sectors, noting that full support will be provided to ensure the success of the work and the achievement of the government’s goals.
He added that the investment projects being implemented secure job opportunities for local companies, as well as employing Iraqi workers, in addition to developing service infrastructure in areas near the projects through social benefit projects.
It is worth noting that the ministry is negotiating with the American company “Chevron” to implement a number of projects in addition to the West Qurna 2 field.
shafaq.com
