Chevron and Basra Oil Co. have entered exclusive talks to exchange data as part of negotiations over the West Qurna-2 oilfield in southern Iraq, marking a key step in efforts to unlock development and increase production at one of the country’s largest crude assets. The discussions focus on sharing geological and reservoir information to support a potential new production sharing agreement and improve operational planning for the field, which has long been central to Iraq’s export capacity. Industry analysts said the move could accelerate investment and technical upgrades in West Qurna-2, where output has lagged behind targets in recent years due to technical challenges and infrastructure constraints. The talks also underscore Chevron’s continued interest in maintaining a strong foothold in Iraq’s upstream sector amid a competitive regional landscape for foreign energy companies. Market observers will be watching closely for a formal deal that could influence future crude supply trajectories from Iraq, OPEC’s second-largest producer.