Chevron Moves to Take Over Russia's Most Prized Iraqi Oil Field

AI Summary

Chevron has signed preliminary agreements with Iraq's Oil Ministry to develop the Nasiriyah supergiant oil field, additional exploration blocks in Dhi Qar, and the Balad oil field in Salahaddin. The moves could expand Chevron's role in Iraq's oil sector and have broader implications for energy development and US influence in the country.

Back in February, U.S. oil and gas giant Chevron signed four preliminary agreements with Iraq’s Oil Ministry, which underscored that from that point onwards, Washington was determined to regain its influence across a country that it sees as being at least as important as any other of the leading Middle Eastern states for three key reasons. One of the deals was to develop the supergiant Nasiriyah oil field, another was to develop four other exploration blocks in Dhi Qar province, and the third was to develop the Balad oil field in Salahaddin…