<div id="readability-page-1"><div>Via The CradleIraq will sign an agreement with Texas oil major, ExxonMobil, to manage, develop, and operate the Majnoon oil field in the country’s south, three Iraqi officials familiar with the matter toldReuterson Thursday.The deal will also cover upgrades to Iraq’s oil export infrastructure in the south and include a profit-sharing arrangement for crude and refined products.Iraq's State Organization for Marketing of Oil (SOMO) is expected to formalize the agreement alongside ExxonMobil and the state-owned Basra Oil Company.<figure><img height="273" src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/iraqoildeal.jpg/query-aXRvaz05R2VxMVAzbQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="500" original-src="https://imageproxy.pbkrs.com/https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/iraqoildeal.jpg/query-aXRvaz05R2VxMVAzbQ"/><figcaption>Via Reuters</figcaption></figure>According toBloomberg, the US-based energy giant has reached a non-binding heads of agreement with Baghdad to re-enter Iraq two years after its withdrawal.Iraqi Prime Minister Mohammed Shia al-Sudani confirmed the preliminary deal but did not disclose details. An Exxon spokesperson toldReuters, “We are pleased to have signed an HoA with the Iraqi Oil Ministry to evaluate exploration, development, and oil marketing opportunities in Iraq.”The Majnoon field, located around 60 kilometers from Basra, is among the largest in the world with an estimated 38 billion barrels of oil in place. The agreement is meant to secure storage capacity in Asian markets, potentially through Exxon’s facilities in Singapore.Former Basra Oil Company operations manager and analyst Muwafaq Abbas said the deal reflects Iraq’s push to modernize its energy sector and recalibrate ties with Washington.“The deals carry political weight, signalling Baghdad’s intent to rebalance regional ties and deepen its integration with western markets,” he said.ExxonMobil was one of the first western companies to return to Iraq after the 2003 US invasion, but exited the West Qurna-1 project in 2024, citing unsatisfactory returns and political complications.The agreement coincides with a surge of Chinese-led projects reshaping Iraq’s southern oil hub.In September, China Petroleum Pipeline Engineering (CPP) signed a $2.5-billion deal to build a 950-kilometer seawater distribution system supplying Majnoon and other fields, designed tosustain productionby maintaining reservoir pressure.In July, PowerChina secured a $4 billion contract for Iraq’s first majorseawater desalinationplant in Basra, a project that will feed industrial and energy operations across the region.At the same time, Chinese private oil companies plan to double their collective output in Iraq to 500,000 barrels per day (bpd) by 2030, reflecting Beijing’s expanding control of mid and downstream infrastructure.Iraq, which holds some of the world’s largest oil and gas reserves, aims to raise production from around 4 million bpd to more than 6 million by 2029.</div>Loading recommendations...</div>

埃克森美孚

伊拉克與埃克森美孚簽署了一項重要協議，旨在管理和開發馬金農油田，包括對石油出口基礎設施的升級和利潤分成安排。伊拉克總理穆罕默德·希亞·阿爾 - 蘇達尼確認了這一交易，這標誌着埃克森美孚在缺席兩年後重返伊拉克。馬金農油田是全球最大的油田之一，估計擁有 380 億桶石油。該協議反映了伊拉克現代化其能源部門的努力，並在中國對該地區投資不斷增加的背景下，加強與西方市場的聯繫

Iraq Inks Major Oil Development Deal With ExxonMobil

- 伊拉克將與埃克森美孚簽署協議，管理和開發馬基農油田。  
- 協議還將涵蓋伊拉克南部的石油出口基礎設施升級。  
- 此舉反映伊拉克推動能源現代化及與西方市場的整合。