U.S. Firms Interested In Boosting Oil, Gas Presence In Iraq

5 Jan 2018   Iraq, USA

U.S. companies are eager to strengthen bilateral cooperation with Iraq in all industry sectors, especially in oil and gas, the Iraqi Ministry of Oil said on Thursday after U.S. Ambassador to Iraq, Douglas Silliman, met with Iraq Oil Minister Jabbar Al-Luiebi. Al-Luiebi invited U.S. companies to take part in tenders called by the Iraqi oil ministry, and said that Iraq was preparing more favorable work conditions for foreign companies investing and doing business in Iraq. The two U.S. supermajors, ExxonMobil and Chevron, already have operations in parts of Iraq. Exxon signed an agreement in 2010 with Iraq’s South Oil Company to redevelop and rehabilitate the West Qurna I oil field in southern Iraq. In 2013, Exxon signed agreements with PetroChina and Pertamina for participating interest in the West Qurna I project. In October 2011, Exxon signed six Production Sharing Contracts (PSCs) covering more than 848,000 acres in the Kurdistan […]

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