Chevron, the second largest U.S. oil company after ExxonMobil, said Thursday it was entering the Kurdistan region of Iraq by buying a majority stake in two exploration blocks in the region from Reliance Industries of India.
The move by a major U.S. company underlines that Kurdistan, which is run by an autonomous government that is often at odds with Baghdad, is becoming an increasingly attractive investment destination for the international oil industry.
The Kurdistan Regional Government and its oil minister, Ashti Hawrami, have been aggressively courting the international oil companies since the fall of Saddam Hussein in 2003.
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