ExxonMobil Negotiates Return to Iraq Oilfields and Expands Azerbaijan Ties
- Reports
- 3
- Developments
- 5
- Repetition
- 33%
New informationRepeats or wire copies
What happened
ExxonMobil is reportedly negotiating a return to Iraq's oilfields, following its previous withdrawal from the West Qurna 1 oilfield in 2024 and the Pirman gas block in Kurdistan. The company has also signed a Memorandum of Understanding with Azerbaijan regarding the integration, development, and production of unconventional onshore oil resources. Furthermore, ExxonMobil and Inpex confirmed co-venturing in Azerbaijani energy projects.
From en.apa.az, trend.az, Offshore Technology
Why it matters
Iraq is actively seeking foreign investment to increase its crude output capacity by 50%, aiming for over six million barrels per day by 2028. These agreements signal growing international interest in the Iraqi oil industry and demonstrate ExxonMobil's renewed strategic involvement in the region.
From Offshore Technology
Who's involved
- ExxonMobilAmerican multinational oil and gas corporation negotiating oilfield returns and signing agreements.
- AzerbaijanCountry where ExxonMobil signed an MoU on unconventional oil resources and co-ventured with Inpex.
- IraqSovereign state actively seeking foreign investment to boost crude output capacity.
- InpexOil/gas exploration company confirmed as a co-venturer in Azerbaijani energy projects.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- IraqSpeculative
Iraq might see increased investment in its oil sector, potentially boosting crude output and national revenue.
- AzerbaijanSpeculative
Azerbaijan could see improved human capital and long-term operational benefits from foreign investment in renewable energy training.
How it developed
Newest first. Tap a step to see who reported it.- Azerbaijan, Iraq, and the Middle East are discussing bilateral and multilateral cooperation amid regional challenges.Sub-event
- Azerbaijan's Minister of Energy, Parviz Shahbazov, oversees ACG field production interests and participates in production sharing.Sub-event
ExxonMobil and Inpex confirmed as co-venturers in Azerbaijani energy projects, with Berlin-based training underway.1 source
- ExxonMobil is discussing a potential oil production and refinery development partnership with Iraq.Sub-event
ExxonMobil secures new energy agreements in Azerbaijan and plans to resume operations in Iraq and Kurdistan.1 source
Keep exploring
The entities involved
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ExxonMobil
American multinational oil and gas corporation
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Azerbaijan
country in the Caucasus in Eastern Europe and Western Asia
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Iraq
sovereign state in Western Asia
Related events
- Foreign Minister Ararat Mirzoyan participated in peace talks between Armenia and Azerbaijan, while Azerbaijan supplied petroleum products to Armenia.
- Iraq is seeking to expand its oil production and refining capacity, leading to a new partnership deal reviving Chevron's presence in the country.
- Iran granted permission for Iraqi oil tankers to use alternative export routes via Kurdistan/Iran.
- Strategic partnership discussions between UAE and Azerbaijan took place on September 11, 2026.
- Geopolitical tensions escalate in the Middle East, marked by a partitioned zone between Kuwait and Saudi Arabia and the impact of the Iran war on oil stocks.
Coverage
Newest first; wire copies grouped- en.apa.az
- trend.az
- Offshore TechnologyExxonMobil negotiating return to Iraq’s oilfields ExxonMobil is reportedly in negotiations with Iraq to make a comeback to the nation's oilfields, according to a report by ZAWYA, citing state officia