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Chevron Begins Oil Field Development Work in Southern Iraq

Developments follow the signing of a MOU with state owned Basra Oil Company

US oil major Chevron has began working with the Iraqi Government to develop oil fields in Southern Iraq, following the June signing of a memorandum of understanding (MOU) to develop fields owned by Basra Oil Company and Dhi Qar oil.

As part of the contract, Chevron will build production facilities, as well as survey and study the fields to improve operational performance. 

The deal is Chevron's first major operational contract in Iraq, however the oil major also has an 80% stake in the Sarta block in Kurdistan.

Source: OilPrice.com


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