Chevron, Basra Oil Company Sign Information-Sharing Deal

By John Lee.

Basra Oil Company (BOC) signed a confidentiality agreement with Chevron of the United States on Wednesday to regulate the exchange of information for the evaluation of the West Qurna 2 oil field, and to negotiate future agreements.

According to the Ministry of Oil, West Qurna 2 is one of Iraq's giant oil fields, from which Russia's Lukoil had withdrawn.

Minister of Oil Basim Mohammed Khudair al-Abadi said the ministry was in negotiations with Chevron over a number of other projects in addition to West Qurna 2, and that it offered opportunities for international companies to invest in Iraq.

He added that such investment projects create work for local companies and Iraqi labour, as well as developing infrastructure and services in areas near project sites.

(Source: Ministry of Oil)

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