Iraq signed the Arab world's largest oil and gas deals in July 2026, covering nine fields with US companies

According to a report by the Washington-based energy research platform ATTAQA published on Tuesday, 13 Mordad 1405 (August 4, 2026), Iraq signed the Arab world's largest oil and gas deals in July 2026, topping regional energy investment.

Baghdad ranked first after reaching agreements with US companies to advance nine oil fields across Kirkuk, Diyala, Basra and Dhi Qar. The projects involve ConocoPhillips, Chevron, Halliburton and HKN Energy, and support the Iraqi government's goal of raising crude output to 6 million barrels per day, increasing associated gas production and improving operational efficiency.

The contracts were concluded during Prime Minister Ali Al-Zaidi's July visit to Washington, where Iraq also reached broader understandings with US companies covering infrastructure and technology. Oman also featured on the list with oil field and tanker projects, while Qatar secured contracts for Libya's Ghadames Basin and the Baleine offshore field in Côte d'Ivoire. Iraq's expanding production capacity matters for the Iranian market, since Iraq is both a direct competitor in regional oil exports and one of Iran's largest trading partners.