Baghdad: The Iraqi Ministry of Oil has successfully reached a principles agreement with the US energy corporation Chevron for the development of the Al-Nasiriah Project. This project encompasses four oil exploration blocks along with the already operational Balad oilfield.
According to Kuwait News Agency, the signing ceremony for this significant agreement was overseen by the Iraqi Prime Minister Mohammad Al-Sudani in Baghdad. During the event, Prime Minister Al-Sudani held discussions with Chevron Vice President Frank Mount and his delegation, expressing his satisfaction with Chevron's renewed commitment to Iraq.
The Prime Minister emphasized the government's new strategy in engaging with major international oil companies, particularly American firms, to boost investments in Iraq. He commended Chevron's contribution to transferring advanced oil technology to the country, its involvement in community activities, and its adherence to sound environmental practices in its operations.
Al-Sudani reaffirmed the strategic nature of Iraq's relationship with the United States, highlighting efforts to attract international companies to work within the country. He underscored the importance of advancing the oil sector in various areas such as production, refining, and natural gas operations, as well as integrating the latest technological advancements to enhance this crucial industry.