Chevron Anticipates Signing Oil Investment Agreements with Iraq Today

Chevron anticipates signing significant agreements with Iraq today, Friday, which are expected to pave the way for advancing negotiations on investments in major oil fields. Chevron is currently engaged in exclusive talks with the Iraqi side to develop the "West Qurna-2" field, considered the country's second-largest oil complex, previously managed by Russia's Lukoil. Negotiations also encompass the "Nassiriya" field, which holds promising exploratory potential. Furthermore, Chevron is participating in a consortium alongside other American and international companies to study the feasibility of constructing a new pipeline, enabling Iraq to export oil away from the Strait of Hormuz. The company is also exploring the possibility of reactivating the "Kirkuk-Baniyas" pipeline, which extends through Syrian territory to the Mediterranean coast.