American energy giants ExxonMobil, Chevron, and Occidental are reportedly in advanced talks with the Iraqi government to expand operations in the country’s key oilfields, signaling renewed interest in Iraq’s vast untapped reserves.
The discussions come as Iraq seeks to modernize its energy infrastructure and boost production capacity amid rising global demand and strategic shifts in the oil market. According to officials familiar with the matter, talks have centered around joint ventures, technology-sharing agreements, and long-term development contracts for major southern fields including West Qurna, Majnoon, and Rumaila.
This move is seen as part of a broader U.S. strategy to maintain influence in the Middle East’s energy sector while countering increasing investments from China and Russia in the region.
While Iraq remains one of the largest oil producers in OPEC, years of underinvestment, political instability, and infrastructure challenges have hampered full-scale production. U.S. companies, equipped with advanced drilling technologies and capital, could play a critical role in revitalizing the sector.
Energy analysts note that a successful agreement would not only strengthen Iraq’s position as a global energy supplier but also reaffirm American supermajors’ role in shaping the future of oil production in the Gulf.
