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Chevron takes small step into southern Iraq

After years circling the periphery of Iraq's oil sector, Chevron has signed a non-binding agreement to discuss projects in Basra and Dhi Qar provinces.
Chevron executive Kevin Kveton (sitting, left) and then-Basra Oil Company Director General Ihsan Ismaael, now Iraq's Oil Minister (sitting, right) sign copies of a Letter of Cooperation in Basra on June 6, 2018. (ALI AL-AQILY/Iraq Oil Report)

BASRA - Chevron has signed a non-binding Letter of Cooperation with the state-run Basra Oil Company (BOC) and Dhi Qar Oil Company (DQOC), which could lead to its first investment deals in federal Iraq.

The agreement, signed on Wednesday, comes more than a decade after Chevron first provided technical support to Iraq in 2004, in anticipation of building a foundation of relationships for future investment.

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