Iraq’s Oil Ministry announced Wednesday the signing of a memorandum of understanding between Basra Oil Company and US energy major ExxonMobil to advance the second phase of a seawater utilization project, under the sponsorship of Oil Minister Bassem Mohammed Khudair Al-Abadi.
Al-Abadi said the project is expected to handle up to 2.5 million barrels per day of seawater to support oil field operations and maintain reservoir pressure. It will complement a separate project being carried out by France’s TotalEnergies, which has a planned capacity of 5 million barrels per day.
The minister noted that the agreement aligns with the government’s strategy to attract international energy companies, introduce advanced technologies, strengthen Iraq’s oil industry, and ensure sustainable production growth.
He also highlighted cooperation with major US companies, including ExxonMobil and Chevron, to benefit from their technological expertise. According to the minister, such initiatives are expected to generate employment opportunities for local workers and contribute to the implementation of service projects across the country.
