Iraq signed 48 agreements with US companies during Prime Minister Ali al-Zaidi’s visit to Washington, covering energy, healthcare, and technology sectors, according to his media office. The deals, worth over $60 billion, were finalized at a US-Iraq business summit at the US Chamber of Commerce on Friday.
Major Energy and Infrastructure Agreements
Among the agreements are partnerships between Iraq’s ministries of oil and electricity and major US firms, including ExxonMobil, KBR, GE Vernova, Shell, and Halliburton. A key focus is the reconstruction of the Iraq-Syria oil pipeline, which will link Kirkuk’s oil fields to Syria’s Mediterranean port of Baniyas.
Chevron will lead the pipeline project, according to Iraq’s state news agency. The US Department of State described the pipeline as a “critical energy corridor” with an initial capacity of two million barrels per day. A US-led consortium will handle its technical and financial aspects.
Starlink and Additional Chevron Deals
Iraq also signed an agreement with Starlink to introduce satellite communications services. Chevron, beyond the pipeline, inked two additional deals to boost Iraqi oil production, as stated by company executive Jake Spiering.
Strategic Shift Away from Strait of Hormuz
The agreements come as Iraq seeks to reduce reliance on the Strait of Hormuz, where oil exports have faced disruptions due to regional tensions. US Ambassador to Turkiye Tom Barrack noted the pipeline projects could make the Strait “an afterthought.”
Prime Minister al-Zaidi emphasized Iraq’s open-door policy at the summit, stating, “Everybody who has a project can come and talk to us. We will not make it difficult for anyone.”
