Chevron signs consultancy deal with Basra Oil Company over West Qurna-2

Iraq's Oil Ministry signed a consultancy agreement with Chevron to advise Basra Oil Company during negotiations over developing the West Qurna-2 field. Chevron is seeking revised contract terms covering profit margins, revenue sharing, capital spending caps and operational flexibility. No fees or contract value were reported.

• Scope: technical consultancy to Basra Oil Company for the length of the negotiation period
• Field: West Qurna-2 in southern Iraq
• Earlier 2026 agreements cover taking over Lukoil's share in the field
• No fees or contract value reported