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2026-07-19T00:18:52.000Z

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Iraqi Oil Minister: Chevron project to surpass $150B

Iraqi Oil Minister: Chevron project to surpass $150B

Iraqi Oil Minister Basim Mohammed Khudair revealed that the value of investments associated with Chevron Corporation's projects in Iraq will exceed $150 billion upon completion. These projects include the development of West Qurna 2 and Nassiriyah oil fields, as well as studies for constructing pipelines to export oil outside Iraq and bypass the Strait of Hormuz, through which most Iraqi oil exports pass, amid geopolitical threats. These agreements are part of Iraq’s efforts to strengthen its energy relations with the United States, following Prime Minister Ali Zaidy's visit to America and his meeting with President Trump, during which he announced that the projects would involve significant investments and the development of massive oil fields.

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