“Iraq Signs 48 US-Linked Economic Agreements as Al-Zaidi Pushes Energy, Infrastructure and Technology Investment”

“Iraq Signs 48 US-Linked Economic Agreements as Al-Zaidi Pushes Energy, Infrastructure and Technology Investment”

Iraq has signed or facilitated 48 agreements, memoranda of understanding and partnership arrangements involving US companies and other international business partners during Prime Minister Ali al-Zaidi’s visit to Washington, in a major push to strengthen economic ties between Baghdad and the United States.

The agreements, announced during the US Iraq Business Summit at the US Chamber of Commerce on July 17, 2026, cover a wide range of sectors, with energy and oil infrastructure accounting for a significant share of the deals. Other areas include technology, telecommunications, healthcare, finance and infrastructure.

Major companies linked to the agreements include Chevron, Shell, BP, ConocoPhillips, Halliburton, GE Vernova, HKN Energy, Starlink, Cisco, JPMorgan, Abbott and Thermo Fisher Scientific, according to reports on the package.

The agreements are estimated to represent more than $60 billion in potential commercial partnerships and investment commitments. However, several of the arrangements are preliminary agreements or memoranda of understanding and will require further negotiations, approvals and implementation before their full economic value can be realized.

A central focus of the energy deals is the development of additional oil production and export infrastructure. The initiatives include efforts to create alternative routes for Iraqi crude exports amid continuing disruptions and security concerns surrounding the Strait of Hormuz, a major global oil transit route.

Chevron has signed agreements linked to increased oil production and a proposed pipeline project, while BP and ConocoPhillips are also advancing cooperation connected to the redevelopment of major oilfields in the Kirkuk region.

The wider package reflects Prime Minister Al-Zaidi’s stated ambition to shift Iraq US relations from a primarily security focused partnership towards deeper economic cooperation. The Iraqi government has increasingly sought to attract international investment to modernize its energy sector, expand infrastructure and diversify economic activity beyond its heavy dependence on oil revenues.

The agreements also signal growing US commercial interest in Iraq at a time when Baghdad is seeking to balance its relationships with Washington, regional powers and other international partners. For Iraq, attracting reliable foreign investment remains central to improving energy production, infrastructure and economic growth.

Analysts, however, note that the scale of the announced commitments should be viewed in the context of the distinction between signed commercial contracts and non-binding memoranda of understanding. The eventual impact of the agreements will depend on financing, regulatory approvals, security conditions and the successful execution of the proposed projects.

The developments mark one of the most significant recent efforts to deepen US Iraq economic relations and could reshape cooperation between both countries, particularly in the energy sector, if the proposed projects move from agreements to full implementation.