Iraq Signs MoU with ExxonMobil for Second Phase of Seawater Utilization Project

Iraq’s Oil Minister, Bassem Mohammed Khudair Al-Abadi, on Wednesday oversaw the signing of a memorandum of understanding between Basra Oil Company and US energy giant ExxonMobil to advance the second phase of a seawater utilization project supporting the country’s oil fields.

The minister stated that the project is designed to provide up to 2.5 million barrels per day of seawater to support oil field operations and maintain reservoir pressure. The initiative will complement a separate project being implemented by France’s TotalEnergies, with a capacity of 5 million barrels per day.

Al-Abadi said the agreement forms part of the government’s and Oil Ministry’s strategy to attract international energy companies, modernize the oil industry, sustain production operations, and increase output.

He also highlighted ongoing cooperation with major American companies, including ExxonMobil and Chevron, to benefit from advanced technologies. The minister added that implementing such projects is expected to create employment opportunities for local workers and support the delivery of service projects.