Iraq's state-owned Basra Oil Company and Chevron agreed to start implementing a memorandum of understanding to develop some oil fields in the country, according to the Iraqi oil ministry on Sunday.
The ministry said that Chevron and Basra will also establish a company to work together.
The Director General of the Basra Oil Company Ihsan Abdul-Jabbar said that the cooperation agreement provides for companies to conduct surveys and studies on oil fields with modern technology.
Abdul-Jabbar underlined that this project will provide employment opportunities for citizens and provide social services to the province.
Majid Hadi, the representative of Chevron in Iraq said that the company has multiple areas of work with the Iraqi Ministry, including field studies, training and development.
By Murat Temizer