Iraq is negotiating with the US company KBR for a contract to develop its oil sites within post-war plans to boost crude and gas production, its Oil Minister said on Wednesday.

Hayan Abdel Ghani told the Iraqi News Agency that OPEC’s second largest oil producer is seeking to attract foreign investment into its hydrocarbon sector and that such projects cover oil, gas and refining.

He said a multi-billion-dollar contract with France’s TotalEnergies for the development of its gas fields in South Iraq is “progressing successfully.”

“We have entered negotiations with a number of foreign companies, including KBR, for investment in Iraq’s oil sector…We have made considerable progress in the talks with KBR,” the Minister said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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