The following commercial agreements worth as much as $8 billion were reached during a signing ceremony between U.S. energy companies and the Government of Iraq on August 19, 2020:
- Honeywell and the Ministry of Oil agreed to advance the development of the Ar Ratawi [Artawi] gas project, which will further enable Iraq to capture, process, and utilize indigenous gas resources to meet domestic energy demand.
- General Electric and the Ministry of Electricity committed to three agreements that will help increase reliable access to electricity in Iraq, including efforts related to GE's existing generation maintenance program, addition of combined cycle units at the Dhi Qar and Samawah power plants, and collaboration on strengthening Iraq's electricity grid and interconnection with neighboring countries.
- Stellar Energy and the Ministry of Electricity concluded a front-end engineering and design agreement that will help advance deployment of turbine inlet air chilling technology on more than 30 turbines, which will increase power sector efficiency by as much as 30 percent.
- Baker Hughes and the Ministry of Oil agreed to further collaboration on flare gas-to-power opportunities, and deployment of U.S. oil field services and equipment.
- Chevron and the Iraqi Ministry of Oil outlined a framework for entering into exclusive negotiating on an exploration, development, and production contract in the Dhi Qar Province.
US Secretary of Energy Dan Brouillette (pictured) said:
"As two of the top oil producers in the world, the United States and Iraq share an appreciation for how energy shapes our economies and can strengthen our respective security.
"That is why I was thrilled to join Prime Minster Kadhimi, Minister Ismael, and Minister Hantoush today for an event featuring this prestigious Iraqi delegation and our great American energy companies. Together, we laid the groundwork for commercial partnerships worth up to $8 billion.
"These deals are key to Iraq's energy future, and I am confident that the same companies that have empowered the United States to become energy independent will deploy their deep expertise to help Iraq achieve its full potential in the energy sector."
(Source: US Dept of Energy)