Chevron is poised to significantly bolster Iraq’s oil output as it enters exclusive talks to operate the West Qurna 2 oilfield, potentially doubling production to 800,000 barrels per day. The move is part of Iraq’s strategy to ramp up oil and gas production after years of political instability which saw major firms withdrawing from the region.
According to Oil Minister Hayan Abdel-Ghani, the U.S. company has secured exclusive negotiation rights for one year, potentially gaining control of a field that contributes almost 10% of Iraq’s…