Iraq's Dhi Qar Oil Company signs HOA with KBR, Dragon Oil
The agreement, announced by Basem Mohammed Khudair, Undersecretary of the Ministry of Oil for Extraction Affairs, marks a strategic step toward the development of the Abu Amood and Al-Subba oil fields, located in the Dhi Qar Governorate in southern Iraq.
Khudair stated that this HOA will serve as the foundation for further negotiations with the participating companies.
The Abu Amood and Al-Subba fields are considered pivotal to Iraq's plan to expand its southern oil output and attract foreign investment into its energy sector. With this move, the Iraqi Ministry of Oil signals its commitment to leveraging international expertise and investment to revitalize underdeveloped fields and boost national production.
The collaboration with well-established international partners like KBR and Dragon Oil is also expected to bring in advanced technology and project management practices, contributing to more efficient and sustainable field development.
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