Baghdad: Prime Minister Mohammed Shia al-Sudani sponsored a signing ceremony for a memorandum of understanding between the Ministry of Oil and the American company Chevron. This agreement focuses on the Nasiriyah project, which includes four exploration blocks, the development of the Balad oil field, and other exploration sites.

According to National Iraqi News Agency, during a meeting with Chevron’s Vice President, Frank Mount, and his delegation, Al-Sudani expressed his welcome to Chevron’s return to Iraq. He highlighted the government’s new approach in engaging with major oil companies, particularly American ones, and praised Chevron’s role in transferring oil technology to Iraq, its community contributions, and its adherence to sound environmental policies in oil projects.

Al-Sudani noted that Iraq’s relationship with the United States is strategic. He emphasized the government’s efforts to attract companies to operate in Iraq and its commitment to enhancing the oil sector’s production, refining capabilities, and investments in associated and natural gas. The Prime Minister underscored the importance of utilizing the latest technologies to develop this crucial sector.

Frank Mount, representing Chevron, expressed the company’s eagerness to work in Iraq, a nation with abundant opportunities and significant potential, both natural and human. He stressed Chevron’s commitment to a long-term partnership with Iraq, highlighting the country’s current security stability and the firm’s intention to bring modern technology and expertise to the region.