In 2024, Iraq moved to profit-sharing contracts for new bid rounds, from the technical service contracts it had awarded until then. In contrast, traditional technical service contracts offer a flat rate for every barrel of oil produced after reimbursing costs. West Qurna 2, under Lukoil’s operatorship, was under a technical service contract. So it is only natural that Chevron would want to see higher returns from West Qurna 2 before agreeing to take over the operatorship of the field. Talks between Chevron and Iraq on West Qurna 2 continue, the Iraqi Oil Ministry told Reuters.