Iraq has signed agreements with U.S.-based Schlumberger and Chevron to advance oil and gas projects and is also making progress in talks with Kuwait on the joint development of cross-border fields, Oil Minister and Deputy Prime Minister for Energy Affairs Hayan Abdul Ghani said on Thursday.

The Oil Ministry signed a deal with Schlumberger to raise output at the Akkas gas field in western Anbar province to 100 million standard cubic feet per day (MMcf/d), part of Baghdad’s push to expand domestic gas production and reduce reliance on imports.

A separate framework agreement was signed with Chevron to explore four blocks in Dhi Qar province, develop the Balad oil field, and potentially other sites, Abdul Ghani said.

The minister added that Iraq has reached “significant progress” in understandings with Kuwait on the development of shared oil fields. Talks with a Kuwaiti delegation representing the joint committee tasked with implementing a memorandum of understanding on shared oil fields focused on strengthening cooperation with both sides to ensure mutual economic and energy benefits.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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