Iraq Courts Greater US and International Energy Investment During Washington Visit
Iraq’s Oil Minister Bassim Khudair has reaffirmed Baghdad’s support for international energy companies operating in the country, describing them as strategic partners and signaling a push for expanded investment during the Iraqi delegation’s visit to Washington this week.
“We support all companies operating in Iraq, whether they are American, European, or any other company,” Khudair told Rudaw’s Diyar Kurda on Tuesday. “We consider the companies operating in the oil and gas sector to be our partners, not just contractors.”
Khudair said Baghdad is currently in discussions with international companies to increase the production capacity of oil fields in the Kurdistan Region with the aim of boosting exports.
“We are in talks with these companies to increase the production capacity of the fields located in the Region in order to increase exports,” he said.
The minister’s remarks come as Iraq seeks to reshape its relationship with the United States through greater economic cooperation and investment, as the current framework of military cooperation under the Global Coalition to Defeat ISIS and several European advisory missions is set to conclude on September 30.
Baghdad has increasingly emphasized a transition from security-focused cooperation toward economic development, investment, and institutional reform.
In a statement released on Wednesday, Prime Minister Ali al-Zaidi’s office said Iraq is entering “a new phase” centered on building “a strong, sovereign state free of corruption and supported by a strong and sustainable economy.”
Khudair also highlighted a recent tripartite agreement between the Kurdistan Region, the federal Ministry of Oil, and oil companies operating in the Region, describing it as a key step toward restoring exports.
The agreement provides for oil exports to be conducted exclusively through the State Organization for Marketing of Oil (SOMO) under the company's established mechanisms.
The comments coincide with a series of new energy agreements involving American firms. Iraq’s Oil Ministry announced on Thursday that it had signed a contract with Texas-based HKN Energy to develop an oil field in Salahaddin province. Earlier this week, Baghdad also reached an agreement with US oil services company Halliburton to develop two oil fields in southern Iraq.
The new contracts underscore Iraq’s efforts to attract foreign investment into its energy sector while presenting itself as a stable and reliable partner for international companies.
