Iraq’s Ministry of Oil has issued exclusive invitations to several major US oil companies to submit bids for taking over the operatorship of the West Qurna-2 field.
The Ministry said it is pursuing a transparent, competitive process based on approved criteria for awarding oilfield development contracts. Direct negotiations are under way with the invited companies, which will be allowed to submit offers and compete openly.
According to the statement, transferring management of West Qurna-2 to a leading US operator would support Iraq’s production stability, safeguard its market share, and ensure the continuity of state revenues. It would also strengthen Iraq-US economic relations, facilitate technology transfer, and broaden the international expertise working in Iraq’s oil sector.
The Ministry added that greater participation from major US firms reflects Iraq’s strategic importance in global energy markets and contributes to long-term economic and strategic sustainability.
Russia’s Lukoil, the operator of the field, said on 14th November that it was in negotiations with several potential buyers for its international assets, following restrictions imposed earlier that month. The United States subsequently issued a sanctions waiver allowing continued operations related to Lukoil until 13th December
