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 takes small step into southern Iraq
Chevron executive Kevin Kveton (sitting, left) and Basra Oil Company Director General Ihsan Ismaael (sitting, right) sign copies of a Letter of Cooperation in Basra on June 6, 2018, while Oil Minister Jabbar al-Luiebi (standing, center right) and Deputy Oil Minister for Upstream Karim Hattab (standing, center left) look on. (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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