BP and ConocoPhillips will announce multi-billion dollar investments in Iraq’s energy sector this Friday.
The move is part of a U.S. initiative to bolster Iraq's infrastructure and reduce regional reliance on Iranian energy.
The announcement coincides with the U.S.-Iraq Business Summit in Washington.
U.S. firms and the Iraqi government anticipate over $60 billion in total agreements.
These investments aim to boost oil production and diversify export routes impacted by regional conflicts.