Iraqi Prime Minister Mohammed Al-Sudani held talks with Joe Koch, vice president of U.S. energy major Chevron on expanding cooperation in the oil and energy sectors, including boosting production revenues and refining capacity.

The Prime Minister’s Media Office said in a statement on Sunday that the talks focused on ways to enhance the investment environment in the oil and gas sector and adapt contractual frameworks to align with Iraq’s development priorities in order to maximise oil production revenues and expand refining and processing capacity.

The statement said Al-Sudani directed the Ministry of Oil to continue discussions with Chevron to identify optimal investment opportunities and ensure the effective utilisation of Iraq’s oil resources.

In August 2025, Chevron had signed a preliminary agreement with the Ministry of Oil to develop a number of oil and gas projects, marking the company’s return after several years of absence. The agreement covered the Nassiriyah project, which comprises four oil exploration blocks in Dhi Qar province in southern Iraq, as well as the development of the Balad oil field in Salah al-Din province.

Recent Iraqi media reports have indicated Chevron has expressed interest in acquiring Russian firm Lukoil's majority stake in the West Qurna-2 oil field, one of Iraq’s largest producing fields.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.