Chevron and Iraq’s oil ministry signed a Heads of Agreement (HoA) on 19 August enabling negotiations over four exploration blocks in Dhi Qar province and the undeveloped Balad oilfield in Saladin province. The four exploration blocks were offered to Chevron in 2021, but no deal was reached (MEES, 15 October 2021).
In an emailed statement, a Chevron spokesperson said that the agreement allows “Chevron to assess potential opportunities in Iraq and establishes exclusive negotiations between the Ministry of Oil and Chevron in this regard.” (CONTINUED - 301 WORDS)