Chevron has reached a key milestone in its planned entry into Iraq’s upstream. The US major signed two agreements with Baghdad on 23 February for exclusive negotiations to take over the 480,000 b/d capacity West Qurna-2 (WQ-2) oil field, and for and development of the Nasiriyah oil field. The agreements also cover four exploration blocks in Dhi Qar Governorate, and development of the Balad oil field in Saladin Governorate.
Tom Barrack, US ambassador to Turkey and envoy to Syria, attended the signing ceremony alongside Prime Minister Mohammed al-Sudani. Mr Barrack is also overseeing US policy on Iraq following last month’s departure of Special Envoy to Iraq Mark Savaya. (CONTINUED - 1005 WORDS)
