Chevron Expands Southern Iraq Presence with New Oil Projects
Chevron is expanding its presence in southern Iraq's oil sector, focusing on two major projects and a proposed pipeline that would transport Iraqi crude to the Mediterranean via Syria.
The US energy giant has signed agreements with the state-run Basra Oil Company for West Qurna (Phase 2), one of the largest oilfields in Basra province, advancing commercial negotiations. The company also signed an addendum with the Dhi Qar Oil Company for the Nasiriyah Field and surrounding exploration area.
Chevron has joined a cross-border pipeline project from Iraq through Syria to the Mediterranean Sea, alongside Urbacon Concessions Investments WLL and TIC Infra II LLC. However, Chevron declined to comment on specific details related to commercial matters or its strategy behind shifting its presence in the country.