ConocoPhillips’ CEO met with Iraq’s prime minister to discuss major investments in the Nahr Bin Umar oil field in Basra province. They focused on ways to invest in associated gas and timelines for increasing oil and gas output from the field.
The talks support Iraq’s broader goal of fully using its gas resources and eliminating the need for imports in the coming years. The CEOs of ConocoPhillips and TotalEnergies, who also attended, committed to meeting the production-increase timelines. Their commitment points to a potential expansion of operations in the region.