Alhamdulillah! Iraq Partners with ExxonMobil to Develop Majnoon Oilfield
Assalamu Alaikum wa Rahmatullahi wa Barakatuh! On Wednesday, Iraq signed a promising agreement with the American energy company ExxonMobil to develop the Majnoon oilfield located in the southern part of the country. This move comes as part of Iraq's earnest efforts to increase its hydrocarbon production capacity.
According to an official statement from the government, this agreement is a meaningful advancement in developing Iraq's oil sector and also strengthens the economic relationship between Iraq and the United States.
The signing ceremony was overseen by Iraqi Prime Minister Mohammed Shia Al Sudani, with senior US diplomats present as well.
Iraq warmly welcomes cooperation with major global oil companies, especially those based in the US, to develop key oilfields including the Majnoon field in Basra.
Prime Minister Al Sudani said, "All doors are open for major international companies to help develop our oil sector."
He also emphasized the government's keenness to attract investments to grow the energy sector, particularly focusing on gas exploitation.
The Prime Minister highlighted ExxonMobil's important role in enhancing the infrastructure needed for oil exports and contributing to diversifying Iraq's export sources.
He added that ExxonMobil's use of the latest technologies has boosted the performance of the oil industry and increased Iraq's hydrocarbon production.
It's worth noting that Exxon was one of the first Western oil explorers allowed into Iraq back in 2010, following the country's challenges after years of conflict. However, Exxon withdrew from its main investment in the West Qurna-1 oilfield last year due to contractual and political difficulties.
May Allah bless these efforts and grant success for the benefit of Iraq and its people.
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