Iraq’s Basra Oil Company and Dhi-Qar Oil Company have signed a memorandum of understanding with Chevron for studies and seismic surveys on oil activities in the country, Kallanish Energy reported.

Iraqi oil minister Jabar Al-Luaibi said that the agreement will aid state oil firms in their technical, administrative and financial responsibilities.  He added that the possibility of extending cooperation with Chevron to development projects is being considered.

Ministry spokesman Assim Jihad stated that the ministry plans to sign more agreements with international oil companies to strengthen the Iraqi economy through exchanging experience and developing the country’s capabilities to invest in domestic oil and gas growth.