Oil Minister: US firms keen on Iraq projects

Oil Minister Bassem Mohammed Khudair reported that American companies are significantly increasing their presence in Iraq’s oil and gas sector. Several companies, such as Halliburton, Schlumberger, and Baker Hughes, are operating there and have memoranda of understanding with firms like Chevron and ExxonMobil. Current activities include the development of major oil fields such as West Qurna 2, Maysan, Hamrin, and Akeez. The ministry is working to overcome obstacles to accelerate contract signing and project implementation, with a focus on the types of contracts that involve profit-sharing rather than production-sharing, aiming to boost investments and generate greater revenue for Iraq.

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