10:18 AM EDT, 10/08/2025 (MT Newswires) -- Exxon Mobil ( XOM ) signed a deal with the Iraqi government to operate in the country's oil fields, including the Majnoon oilfield in Basra, Iraqi Prime Minister Mohammed Shia al-Sudani said Wednesday.

Financial terms were not disclosed.

The prime minister highlighted the importance of the oil giant's aid in advancing Iraq's oil export infrastructure, expanding export sources, and using new technologies to develop the oil sector and boost production, according to an official statement from the prime minister's office.

The deal is a major step for Iraq's development of economic relations with the US, as well as for the future of the Middle Eastern country's oil sector, the statement added.

Exxon Mobil ( XOM ) did not immediately respond to a request for comment from MT Newswires.

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