Iraq Approves Chevron Agreement for West Qurna 2

Iraq’s Council of Ministers has approved the final terms and conditions of a framework agreement for the management and operation of the West Qurna 2 oil field.

The agreement was signed between the Ministry of Oil (Iraq), represented by the Basra Oil Company and the North Oil Company, and U.S.-based energy firm Chevron Corporation.

The framework agreement outlines cooperation on the management and operational activities of the major oil field, part of Iraq’s broader efforts to strengthen the development and efficiency of its energy sector.