Iraq will sign 48 contracts with US companies during the PM’s visit to Washington Business and Financial Issues

These actions include the reconstruction of the Iraq-Syria hybrid oil pipeline, which was able to pass through the Strait of Hormuz.

Iraq has struck many agreements and cooperation with American companies, mostly in the oil sector, during a visit to the United States by Prime Minister Ali al-Zaidi.

“A total of 48 agreements, memoranda of understanding, cooperation agreements and memorandums of understanding were signed between the Iraqi government and the United States,” the press office of the Iraqi leader said on Saturday.

It also includes “cooperation and cooperation concerning the ministries of oil and electricity…

Iraq also signed an agreement with Starlink, which manages the global satellite communications sector, to bring services to the country.

The initial agreements, which were signed at a US-Iraq trade meeting at the US Chamber of Commerce in Washington on Friday, come as Baghdad seeks to end its reliance on the Strait of Hormuz, itself. Import and export of oil has been severely disrupted as a result of US-Israel is at war with Iran.

Iraq and Syria have signed a memorandum of understanding to rebuild the defunct Iraq-Syria oil pipeline, which runs from the oil-rich Kirkuk region in northern Iraq to the Syrian port of Baniyas.

The Iraqi news agency said that the major US company Chevron will carry out the work under the agreement.

The US State Department has said it welcomes Iraq and Syria’s plan to restore the pipeline, which “an international coalition led by the US” will “use skills and finances”.

“After renovation, this large project will have the capacity to transport two barrels of oil per day,” the department said. It described the pipeline as “a vital link to connect Iraqi oil to export markets in the Mediterranean and beyond”.

‘Make Hormuz next’

The US ambassador to Turkey, Tom Barrack, said that the recent oil pipeline deal in Iraq will lead to a program “that will make the Strait of Hormuz smart”.

In addition to the Syrian pipeline project, Chevron has signed two other agreements with Iraq to boost oil production, according to the company’s president of venture capital, Jake Spiering.

In total, Iraq’s initial contracts with US companies, covering energy, health care and technology are worth more than $60 billion, Reuters reported.

“We are using an open door policy,” al-Zaidi said at a business meeting. “Anyone who has a job should come and talk to us, we won’t bother anyone.”