The giant US company Chevron has obtained the operating and development rights for one of the most prominent oil fields in Iraq, serving as an official replacement for a Russian energy company that recently withdrew from the project.

Chevron is preparing to inject massive multi-billion dollar investments to develop the infrastructure of the targeted field, bringing in advanced extraction technologies that boost production volumes while simultaneously reducing environmental emissions.

Observers at Dijla Point News believe this acquisition reflects the Iraqi Ministry of Oil's policy aimed at attracting major Western investments, to revitalize the exploration sector and expand the base of international partners.