US major Chevron this week signed a memorandum of understanding (MoU) with Iraq’s Oil Ministry as part of Prime Minister Mustafa al-Kadhimi’s high-profile visit to Washington. The firm says it will “be discussing various opportunities which could be mutually beneficial to both parties.”

The MoU will pave the way for negotiating an “exploration, development and production contract in the Dhi Qar Province” according to the US Department of Energy. Chevron has been especially linked to the province’s Nasiriya field according to the Wall Street Journal, citing Iraqi sources. The field is currently operated by state firm Dhi Qar Oil Company. Iraq Oil Report subsequently reported that the provisional deal includes an exploration JV in the vicinity of Nasiriya and Dhi Qar province. (CONTINUED - 743 WORDS)