The government of Iraq has approved Basra Oil Company’s signing of a preliminary agreement, as well as a non-disclosure agreement, with a consortium including US firms Capital TI and Chevron, and Qatar’s UCC, to study strategic oil export pipeline projects (Reuters, 05/07/2026). The consortium will conduct technical and financial feasibility studies comparing proposed routes, including Basra–Haditha–Kirkuk–Ceyhan and Basra–Haditha–Baniyas.
In addition, Iraq’s government and US oil services Halliburton have signed an agreement to manage two oil fields in the country’s south, as Iraq seeks to increase production (Iraqi Oil Ministry, 05/07/2026). Over the five-year period, crude oil production at the Bin Omar field is expected to rise to 150 kb/d, alongside 300 mcf/d (3.1 bcm/year) of associated gas. Production at the Sinbad field is also set to increase to between 80 and 100 kb/d, while associated gas capacity will rise from 240 to 260 mcf/d (2.5-2.7 bcm/year).
The Iraqi oil minister stated that the ministry is continuing to sign contracts with major international companies, particularly US firms, and will provide support and remove obstacles to achieve national objectives, highlighting Halliburton’s long-standing presence in Iraq since 2003.