Chevron is signing non-binding agreements with Iraq today to negotiate investments in the West Qurna-2 and Nasiriyah oilfields.
The accords include plans for a potential pipeline that would bypass the Strait of Hormuz to provide alternative export routes.
West Qurna-2 currently produces approximately 460,000 barrels per day.
This partnership aligns with Iraq's strategy to deepen energy ties with the U.S. and diversify its national export infrastructure.