The United States supported the transfer of Lukoil assets to American companies in Iraq

The United States supported Baghdad’s initiative to transfer Lukoil’s share at the West Qurna-2 oil field to American oil and gas corporations. According to international agencies, this refers to a possible acquisition of the stake by major U.S. companies after the Iraqi government announced plans to revise the ownership structure of the project. Sources note that Washington views such a scenario as a way to strengthen cooperation and reduce the influence of Russian companies in a region where a significant part of Iraq’s oil is produced.

U.S. officials stated that support for such a step is explained by the need to ensure the stable operation of the field and the provision of long-term supplies of raw materials to global markets. According to Bloomberg, Iraq has already sent proposals to American corporations, including Exxon Mobil and Chevron, which have expressed preliminary interest. Unnamed sources report that Baghdad may choose companies with experience in developing neighboring sites.

West Qurna-2 is among Iraq’s largest projects: about ten percent of the national oil volume is produced at the field. The transfer of Lukoil’s share may become one of the most notable changes in the structure of foreign companies’ participation in production. Analysts link what is happening to the ongoing sanctions pressure on the Russian oil and gas sector and attempts to reallocate assets considering geopolitical factors.

Iraqi authorities emphasize that they are considering the possibility of further attracting technological and financial partners from the United States to modernize oil infrastructure and increase production efficiency. In response, Washington states that support for Iraq’s energy projects will take into account compliance with sanctions measures and long-term security requirements.

Against the backdrop of discussions on the future of Lukoil’s share, experts draw attention to the prospects for a redistribution of influence in the region. Iraq’s energy structures expect that the transfer of rights may take time since details must be agreed upon and compliance with existing contractual obligations ensured. Simultaneously, comments note that the changes should not affect the overall volume of production and oil exports, which remain a key source of budget revenue.

The decision being considered by the Iraqi government reflects a broader process of adapting the sector to existing sanction restrictions, as well as to the need to update the technological base. If the assets are transferred under the control of U.S. companies, the country’s energy sector may gain access to additional investment, specialized technologies, and opportunities for infrastructure development. At the same time, the question remains open as to how the redistribution of Lukoil’s share will affect the future strategy of international companies’ participation in oil projects.

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