US expands cooperation with Iraqi energy

01.09.2020       

In addition to the re-establishment of the US-Iraqi Joint Coordinating Committee on Energy (Energy Joint Coordinating Committee, Energy, JCC), seven contracts were signed for a total of $ 8 billion. The amount is impressive, but only if you do not go into details. The agreements were signed by five major US oil and gas companies, and this immediately changes the scale. Even more significant is the content of the agreements, which are essentially memorandums of understanding and protocols of intent.

Thus, Chevron signed a framework agreement with the Iraqi Ministry of Oil to start exclusive negotiations to conclude an exploration contract, development and production of oil in the province of Zi-Kar. According to The Wall Street Journal, the agreement will be limited, and the investment will not exceed several hundred million dollars. For an oil giant like Chevron, this is very modest. Honeywell Corporation has agreed to develop gas at the ar-Ratawi field, through the development of which it is planned to meet domestic demand for gas in the future. Baker Hughes has reached an agreement on further cooperation in the use of flare gas for power generation, as well as the provision of oilfield services and equipment supplies. Stellar Energy and the Iraqi Ministry of Energy signed an agreement for the preliminary design of the implementation of turbine air cooling technology, and General Electric signed three agreements with the same Ministry of Energy at once to develop the electric power industry in Iraq, including the implementation of an existing maintenance program, the supply of additional combined cycle plants at power plants in the cities of Naseriya and Samawa, and the development of distribution systems. more Strategic Culture Foundation