Iraq Deepens Oil Ties with Halliburton & Chevron

Iraq is increasing its cooperation with leading U.S. energy companies in an effort to boost investment, introduce advanced technologies, and build local expertise across its petroleum sector.

Recent announcements highlighted the government’s growing partnerships with firms such as Halliburton and Chevron. These collaborations are intended to support field development, improve infrastructure, and train Iraqi talent in key regions including Basra and Nasiriyah.

On August 19, 2025, Iraq’s Prime Minister Mohammed Shia Al-Sudani confirmed the signing of a preliminary agreement with Chevron.

The Chevron deal focuses on exploration in four oil blocks located in the southern province of Dhi Qar as well as development of the Balad oil field in central Iraq.

Baghdad has presented this agreement as a turning point in its policy toward international oil companies, with an emphasis on production growth, refining capacity, gas utilization, and environmental standards.

Industry reports note that the Nassiriyah oil field, which is part of the agreement, holds more than four billion barrels of recoverable reserves.

The new cooperation is expected to revive output levels and restore capacity that had previously been limited by OPEC+ quotas.