Iraq PM urges ExxonMobil, HKN Energy to accelerate oil projects

ERBIL, Kurdistan Region - Iraqi Prime Minister Ali al-Zaidi on Tuesday urged US energy firms ExxonMobil and HKN Energy to accelerate their work in Iraq, as Baghdad seeks to increase oil production and attract more foreign investment to the country’s energy sector.

On the sidelines of the 81st United Nations General Assembly in New York, Zaidi separately met HKN Energy Chairman Ross Perot Jr. and ExxonMobil Chairman and CEO Darren Woods.

During his meeting with Perot, Zaidi called on HKN to “redouble its efforts, accelerate the pace of work, and increase working hours on its projects and contractual commitments in Iraq, particularly those related to increasing oil production,” according to a statement from the prime minister’s office.

HKN said it was ready to increase working hours and accelerate implementation of its projects and contractual commitments, according to the readout.

HKN has historically operated in the Kurdistan Region, where it has operated the Duhok province’s Sarsang Block since 2007 and the Atrush Block since 2024. The US company also expanded into federal Iraq in July by signing an agreement with the state-run North Oil Company to develop the Hamrin oil field in Salahaddin province. The project aims to raise production to 140,000 barrels per day of oil and 40 million cubic feet of natural gas per day.

HKN holds a 62 percent production-sharing contract interest in the Sarsang Block and a 25 percent interest in the Atrush Block, where it also serves as operator.

Zaidi also told the HKN delegation that his government plans to organize the “Baghdad Energy Conference,” during which Iraq will announce new exploration blocks as investment opportunities for international energy companies.

Later on Tuesday, Zaidi met Woods to discuss oil exploration and development of existing producing fields.

“The prime minister emphasized the importance of expanding partnerships with major international firms to benefit from their expertise and modern technology in developing the oil sector,” the prime minister’s office said.

ExxonMobil began moving back into Iraq's upstream sector in 2025 after leaving West Qurna-1. In October 2025, Iraq's Oil Ministry and Exxon signed a Heads of Agreement covering development of upstream assets including the Majnoon oil field, improving recovery at Iraqi fields and modernizing oil-export infrastructure.

ExxonMobil completed the handover of its remaining 22.7 percent stake in the West Qurna-1 field to Iraq's state-run Basra Oil Company in January 2024, ending its previous upstream presence in the country.

The new meetings come after Baghdad stepped up efforts this year to attract major US energy companies. During Zaidi’s July visit to Washington, Iraqi and US officials announced nearly 50 agreements and partnerships, with oil-sector cooperation involving companies including ExxonMobil, Chevron and Halliburton.

Iraq is seeking to raise production from existing fields, develop new oil and gas resources and diversify its energy investment base. Recent agreements have included HKN's Hamrin project and US companies' involvement in other Iraqi fields.

Iraq PM urges ExxonMobil, HKN Energy to accelerate oil projects

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