Iraqi Oil Minister Basem Mohammed said that the value of agreements signed between the ministry and US companies during Iraqi Prime Minister Ali al-Zaidi's visit to the United States is estimated at about $200 billion.

In an interview with official Iraqi television on Tuesday evening, the minister said that these agreements will add significant production capacity for oil and will increase investments in associated gas projects.

He added that Iraq's current oil production capacity is 4.8 million barrels per day.

Iraq faces the challenge that many oil-producing countries face, which is attracting investments and increasing production.

Despite Iraq having some of the largest crude oil reserves in the world, the challenges of increasing production limit its ambitions to increase revenues.