Iraq’s oil ministry and the U.S. energy giant ExxonMobil have signed a heads‑of‑agreement to boost the country’s energy sector. The deal, announced by the Prime Minister’s media office, will let ExxonMobil work in key Iraqi oil fields, with the Majnoon field near Basra set as the main focus.
Prime Minister Mohammed Shia al‑Sudani said Iraq is open to big international companies that can help grow its oil and gas industry. “We welcome all major firms to contribute to our oil sector,” he added, stressing the need for investment in gas projects and overall energy development.
ExxonMobil’s senior vice president, Peter Larden, thanked Iraq for strengthening ties with the company and praised progress in Iraq’s various sectors. The agreement highlights Iraq’s commitment to attracting foreign oil investment, a crucial part of a nation whose economy relies on crude oil exports for about 90 percent of its revenue. The Majnoon field, one of the world’s largest, lies just 60 km from Basra in southern Iraq.
Source: ianslive
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