Iraq has signed a memorandum of understanding with the US Honeywell Company to provide oilfield services and help the OPEC producer stop gas flaring.

Honeywell President and CEO for Energy and Sustainability Solutions Ken West, quoted by Iraqi media, said the deal was signed during Prime Minister Mohammed Al-Sudani’s visit to the US in April.

He said the agreement would allow Honeywell to “explore scopes of strategic cooperation in Iraq’s oil and gas fields and help halt flaring of associated gas during the production process.”

Iraq, OPEC’s second largest oil producer, aims to stop long-standing gas-flaring practices within five years and boost gas production by nearly 3,450 million cubic feet per day following the award of about 30 oil concession sites to foreign firms last week.

(Writing by Nadim Kawach; Editing by Bhaskar Raj)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.