Total and Chevron Explore Iraq Oil Fields

Global oil giants Total and Chevron have signed services agreements that will lead to joint exploration of oil in Iraq.

The two companies have signed a services agreement that will lead to joint exploration and development of hydrocarbons from one of Iraq's biggest oil fields, the Majnoon field, according to Dow Jones.

The news organisation says the deal will come into force once the country puts an oil law in place and security on the ground improves.

Chevron refused to comment on the reports saying that no official announcements will be made at this time.

Reported by staff writer