Iraq Signs Strategic Contract with International Companies to Develop Oil and Gas Fields

The Ministry of Oil has concluded an integrated management contract aimed at developing vital oil fields, in cooperation with major American companies specialized in the energy sector. The five-year contract comes in implementation of the ministry's strategy to increase production capacities. This step aims to raise crude oil production in the targeted fields to 150,000 barrels per day, in addition to investing 300 million standard cubic feet per day of associated gas. Official authorities affirmed their continuous efforts to overcome obstacles and provide the necessary support to ensure the success of these strategic partnerships and the development of the Iraqi energy sector.