Iraqi Prime Minister Ali al-Zaidi oversaw the signing of 48 agreements, memorandums of understanding, cooperation pacts and partnership declarations with U.S. companies during his visit to Washington, according to an official statement from the Iraqi prime minister’s media office.
The preliminary deals, valued at more than $60 billion across energy, healthcare and technology, were finalized Friday at a U.S.-Iraq business summit hosted by the U.S. Chamber of Commerce.
The package marks a clear transition after more than two decades of U.S. military engagement in Iraq. Remaining American forces are scheduled to complete their withdrawal by Sept. 30 under a prior bilateral agreement, shifting the relationship from a residual security mission to commercial partnerships.
Energy Deals and Pipeline Projects Lead the Packages
According to the Iraqi prime minister’s media office, the agreements include cooperation and partnerships involving the ministries of oil and electricity with ExxonMobil, KBR, GE Vernova, Shell and Halliburton. Several deals address the reconstruction of the long-dormant Iraq-Syria crude oil pipeline running from the Kirkuk region to the Mediterranean port of Baniyas in Syria.
Iraq’s state news agency reported that Chevron would carry out the pipeline project. The U.S. State Department welcomed the Iraq-Syria plan, calling the pipeline “a critical energy corridor linking Iraqi oil production to Mediterranean export markets and beyond.”
The department said a U.S.-led international consortium would execute the technical and financial aspects, with an initial transport capacity of two million barrels per day once rehabilitated.
U.S. Ambassador to Turkey Tom Barrack said the pipeline agreements would help make the Strait of Hormuz “an afterthought.”
In a July 14 X post, Barrack added that the U.S.-Iraq relationship is shifting to investment and trade, with “new pipelines for energy” helping connect the region.
Shipping and oil exports through the strait have faced heavy disruption during the recent conflict involving Iran.
According to a statement from the Iraqi Prime Minister’s Media Office, Iraq also signed a deal with Starlink to introduce satellite internet services nationwide.
At the summit, al-Zaidi said Iraq is using an open-door policy. “Everybody who has a project can come and talk to us. We will not make it difficult for anyone,” he said through a translator.
More than $60 Billion in Preliminary Agreements
Reuters reported the initial agreements with U.S. firms span energy, healthcare and technology and exceed $60 billion in total value. Chevron signed three agreements with the Iraqi government. Jake Spiering, Chevron’s president of corporate business development, said two focus on boosting oil production while a third involves investing in a pipeline to create another export route out of Iraq.
The deals follow al-Zaidi’s July 14 meeting with President Donald Trump at the White House. The President called the Iraqi leader a “fantastic champion” and said the United States would do “a lot of deals,” creating jobs in both countries while increasing oil output.
Both leaders confirmed that U.S. forces will fully withdraw by Sept. 30. Al-Zaidi stated that American forces will be out of Iraq while U.S. companies will be inside.
A Long Transition After 23 Years of Military Engagement
The commercial pivot comes after more than 23 years of U.S. military presence that began with the 2003 invasion and continued through the campaign against the Islamic State group.
The U.S. military began drawing down its mission in Iraq under an agreement reached during the previous administration, consolidating remaining forces and transferring more responsibility to Iraqi units trained over the past decade.
For many Iraq War veterans, the news may offer a sense of relief that their sacrifices led to a tangible victory in the country decades after the U.S. invasion in 2003.
Statements from President Trump and al-Zaidi focused on this practical shift: ending the residual military mission and expanding commercial ties that could deliver concrete economic results for both countries. Al-Zaidi has described the Washington visit as the beginning of an economic partnership rather than a continuation of prior security arrangements.
For service members and veterans who deployed to Iraq, the agreements represent the next phase after years of combat, training and advisory missions. Expanded oil production capacity, alternative export routes and new infrastructure projects involving major American firms offer a concrete measure of the stability that followed the fight against ISIS and earlier operations.
What Comes Next
Most of the 48 agreements remain non-binding memorandums and declarations of intent. Full implementation will depend on security conditions on the ground, financing details, technical studies and continued Iraqi efforts to consolidate weapons under state control and improve transparency in contracting.
Al-Zaidi’s government has directed ministries to prioritize reputable U.S. companies in energy, telecommunications, technology and development.
Earlier steps included finalizing Starlink’s operating license and advancing talks with Chevron on major southern oil fields. The pipeline rehabilitation, if completed, would give Iraq a Mediterranean outlet less vulnerable to disruptions in the Persian Gulf.
The agreements arrive as Iraq continues to recover oil revenue lost during recent regional fighting and seeks to raise production toward long-term targets. For the U.S. forces that spent more than two decades in the country, the focus has moved from bases and partnered operations to contracts, pipelines and commercial presence.
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