By John Lee.
Opportunities to expand investment in Iraq's oil and energy sectors were discussed during talks between the government and US energy giant Chevron, focusing on increasing production returns and expanding refining capacity.
The discussions covered the company's current activities and potential areas of cooperation, as well as ways to improve the investment environment and remove obstacles facing energy projects. Options for adapting contract structures to align with the government's development objectives were also examined.
It was agreed that further discussions should continue between the Ministry of Oil and the company to identify optimal investment horizons for the national oil sector and ensure more effective utilisation of Iraq's oil resources.
The meeting was attended by Joe Koch, Vice President of Chevron; Undersecretary of the Ministry for Extraction Affairs, Basim Mohammed Khudair; and the Director General of the Petroleum Contracts and Licensing Department (PCLD), Basim Taher.
Last month, Iraq held talks with Chevron on potential cooperation in developing the Nasiriyah oil field and possible engagement at the West Qurna-2 field.
(Source: Ministry of Oil)
Comments are closed.