Sudani sponsors the signing ceremony of two preliminary agreements between Iraqi oil companies and US-based Chevron.
Iraqi Prime Minister Mohammed Shia al-Sudani oversaw the signing ceremony of two preliminary agreements between Iraqi oil companies and the American company Chevron on Monday (February 23, 2026).
The Prime Minister's Media Office stated in a statement received by "Baghdad Today" that "the first agreement was concluded between the Basra Oil Company and the American company Chevron to transfer the management of the West Qurna/2 field, while the second agreement relates to the Dhi Qar and North Oil Companies to develop the Nasiriyah field and the four exploration blocks in Dhi Qar Governorate, in addition to developing the Balad field in Salah al-Din Governorate, with the amendment of the previous agreement to add the Nasiriyah field to it.
The signing ceremony was attended by the US Special Envoy to Iraq, Tom Barrack, and the US Chargé d'Affaires, Joshua Harris."
During the ceremony, the Prime Minister stressed "the importance of these agreements in promoting reforms in the oil sector, and their positive impact on the economic and living standards in the governorates of Dhi Qar and Salah al-Din."
It is worth noting that Basra Oil Company and Lukoil had previously signed a settlement agreement, under which the contract was temporarily transferred to Basra Oil Company and all financial dues between the two parties were settled, with the settlement to become effective after the Cabinet approved it.
The statement indicated that "a framework agreement was signed between Basra Oil Company, Lukoil and Chevron, allowing for the temporary transfer of the contract to Basra Oil Company, which will later transfer it to Chevron after completing negotiations on the terms of the new contract. The agreement guarantees exclusive negotiation for one year for Chevron according to the standards agreed upon by the parties." link