Iraq And Halliburton Sign Deal To Develop Basra Oil Fields

Iraq has signed an agreement with Halliburton to jointly develop key oil fields in Basra, officials said on Tuesday. The deal was formalized as part of ongoing efforts to boost production and strengthen the nation’s energy sector, which remains central to Iraq’s economy.

According to the announcement, the development partnership with Halliburton will focus on enhancing extraction and operational capabilities at major Basra oil sites. Officials emphasized that the agreement is aimed at improving efficiency and output, ensuring that Iraq’s oil resources are developed using modern techniques and technologies.

Representatives from both Iraq and Halliburton attended the signing ceremony, where they reviewed the goals of the project and reaffirmed commitments to long‑term cooperation. The agreement is expected to pave the way for expanded investment and technical support in one of the most oil‑rich regions of the country.

The deal underscores Iraq’s continued engagement with international energy firms to develop critical infrastructure and leverage global expertise for better resource management. Officials said that detailed implementation plans will be announced as the project moves forward.

Source: ARY News