Iraq, ExxonMobil seal energy cooperation deal

Shafaq News – Baghdad

Iraq’s Oil Ministry on Wednesday signed a Heads of Agreement (HOA) in Baghdad with US energy giant ExxonMobil, in the presence of Prime Minister Mohammed Shia al-Sudani, ExxonMobil Vice President Peter Larden, and other officials.

According to a statement from the PM’s media office, the agreement focuses on developing key oil fields, including Majnoon in Basra, while drawing new investment into natural gas projects and export infrastructure. The HOA also includes provisions to upgrade outdated facilities and diversify export routes, measures intended to strengthen Iraq’s energy independence and global competitiveness.

Al-Sudani described the deal as an “important step,” stressing Iraq’s determination to expand cooperation with leading international—especially American—energy companies to drive growth and modernization.

ExxonMobil’s Peter Larden welcomed the accord, noting Iraq’s economic advances and expressing confidence in broadening joint efforts under the new framework.