Iraq signs deal with ExxonMobil to boost oil output
Basra Oil Company in Iraq signed a memorandum of understanding with American ExxonMobil to invest in seawater in the second phase to support oil fields, aiming to produce 2.5 million barrels per day. This initiative is part of the government’s strategy to increase production and exports, and to boost financial revenues. This follows an increase in Iraq's exports to 3.4 million barrels per day. These projects are part of efforts to develop the oil industry and create local employment opportunities, thereby strengthening the national economy.
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