Iraq signs MoU with ExxonMobil for 2.5 million‑bpd seawater injection project

Iraqi Oil Minister Basim Mohammed Khudair Al‑Abadi oversaw the signing of a memorandum of understanding between the state‑owned Basra Oil Company and ExxonMobil on 21 October 2026. The agreement covers the second phase of a seawater utilization scheme that will supply up to 2.5 million barrels of seawater per day to southern oil fields to maintain reservoir pressure and support output. The project complements a separate TotalEnergies seawater plant with a 5‑million‑barrel‑per‑day capacity. The ministry said the MoU aligns with Iraq’s strategy to attract international energy firms and boost production.

ExxonMobil’s involvement could add a new upstream contract in a high‑growth market, potentially increasing future oil output linked to the Iraqi sector. The MoU signals Iraq’s effort to restore pre‑war export volumes, which may improve regional oil supply dynamics.

  • 1The MoU was signed on Wednesday, 21 October 2026, under the auspices of Oil Minister Basim Mohammed Khudair Al‑Abadi.
  • 2The project will supply up to 2.5 million barrels of seawater per day to oil fields.
  • 3The seawater scheme is the second phase of a utilization project designed to maintain reservoir pressure.
  • 4A separate seawater treatment plant operated by TotalEnergies has a capacity of 5 million barrels per day.
  • 5The ministry said the agreement supports Iraq’s strategy to attract international energy companies and increase production rates.

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