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Iraq to Sign Memorandum With Chevron to Explore For Oil

  • Deal covers Chevron’s interest in exploring southern Iraq
  • Talks began with Iraq two years ago and resumed recently
Attendees stand near Chevron signage during the World Gas Conference.
Attendees stand near Chevron signage during the World Gas Conference.Photographer: Andrew Harrer/Bloomberg

Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter.

The deal formalizes Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, the person said. It would exclude areas of the province that contain oil fields and exploration blocks.