Iraqi Cabinet Authorises Talks with Chevron
The Iraqi Cabinet has authorised the Ministry of Oil to sign a non-binding Memorandum of Principles with US oil company Chevron.
According to a statement from the Prime Minister's office, the agreement would facilitate negotiations on: The Nasiriyah Block Project, which includes four exploratory blocks (A, B, C, D);
The development of the Balad oil field;
Any further oil fields or exploratory blocks mutually agreed upon.
Chevron announced last week that it has completed its acquisition of Hess Corporation.
(Source: PMO)
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