Iraq Ensures Operational Stability at West Qurna 2 Oilfield

The Iraqi government has approved a temporary management arrangement for the West Qurna 2 oilfield, aimed at ensuring operational continuity and production stability amid evolving international conditions.

Under the decision, the state-run Basra Oil Company will oversee operations for a 12-month period, assuming responsibility for staff salaries, operational costs, and contractor payments. Iraqi officials emphasised that the measure is designed to safeguard uninterrupted production while maintaining Iraq’s commitment to international energy partnerships.

Production at the oilfield remains stable at between 465,000 and 480,000 barrels per day, supporting supply reliability for global energy markets and reinforcing Iraq’s role as a key oil producer.

Looking ahead, the government has indicated it will engage with international investors regarding future partnership opportunities, underscoring Iraq’s openness to foreign investment and its intention to align operations with global industry standards.

Accounting for approximately 9% of Iraq’s oil output, West Qurna 2 continues to play a significant role in Iraq’s economy and in broader regional energy stability.