Iraq says it plans new oil export routes, eyes partnerships with US majors

WASHINGTON, United States — Iraqi Oil Minister Basim Mohammed Hadhi said the government has a clear strategy for oil and gas investment and is seeking genuine partnerships with major US companies, speaking at a press conference in Washington. He acknowledged that conflicts over the past five to ten years damaged the country's infrastructure, but said the current period of stability offers a suitable ground for strategic cooperation with global firms. The minister said cooperation has begun with global energy companies such as Chevron and ExxonMobil, noting that the Chevron agreement covers the development of the West Qurna-2 field, the Nasiriyah and Balad blocks, and pipeline projects running from Basra to Ceyhan port in Turkey and to Baniyas port in Syria. He also said a consortium of American, Qatari and Iraqi companies is working on a pipeline project from Basra to Fishkabur. Hadhi stressed that relying on a single export route linked to the Strait of Hormuz is disproportionate to Iraq's resources, and outlined plans to develop the Al-Akkaz, Al-Mansuriya and Al-Artawi gas fields to supply power plants. He added that the fifth and sixth licensing rounds and new gas licensing areas are also on the agenda. The minister said talks are under way with OPEC and OPEC+ to raise Iraq's export ceiling, and confirmed that a tripartite agreement has been signed requiring oil exports from the Kurdistan Region to be carried out exclusively through SOMO.