Iraq has signed strategic energy agreements with major international companies as part of a wider package of 48 strategic agreements, memorandums of understanding (MoUs) and economic partnerships across different sectors, overseen by Prime Minister Ali Al Zaidi.

According to the Prime Minister’s Media Office, the agreements mark a step towards strengthening Iraq’s economic partnerships and attracting foreign investment.

In the energy sector, Iraq’s Ministries of Oil and Electricity and state-owned entities signed cooperation frameworks with global energy companies including ExxonMobil, KBR, GE Vernova, Shell and Halliburton.

The partnerships aim to support investment, technology transfer and infrastructure development across Iraq’s oil and power industries, including energy generation, oil field services and sector modernisation.

The agreements also include plans for the Mediterranean Energy Corridor, involving the construction and rehabilitation of cross-border crude oil pipelines to Baniyas on the Mediterranean Sea.

The pipeline project, designed with an initial capacity of two million barrels per day, will involve a consortium including Chevron, TI and Qatar’s UCC.

The initiative is expected to enhance Iraq’s export capacity and strengthen regional energy connectivity. -OGN/TradeArabia News Service