°®Âþµº

Iraq's Prime Minister Mustafa al-KadhimiÌýsaid on Monday he wants another AmericanÌýcompany to replace multinational oil and gas corporationÌý, when it exits Iraq.Ìý

, which in 2019 had looked poised to move ahead with a $53 billion project to boost Iraq's, has been seeking to sell its 32.7 percent stake in one of Iraq's biggest oilfields - West Qurna 1.Ìý

"Exxon Mobil is considering exiting Iraq for reasons that are to do with its internal management practices, decisions, and not because of the particular situation in Iraq,"ÌýKadhimiÌýtold a small group of reporters in Washington after talks with

"When Exxon Mobil departs, we will not accept its replacement to be other than another American company," he added, speaking through a translator.Ìý

KadhimiÌýdid not specify which American companies might be interested. Chevron CorpÌýalso operates

In May, Iraq's Oil Minister Ihsan Abdul Jabbar said the country was considering purchasing Exxon's West Qurna stake through state-owned Basra Oil Co.ÌýÌý

Exxon said in a statement that it had entered into an agreement withÌýPetrochinaÌýand China's offshore oil and gas major CNOOC Ltd to sell its West Qurna interest in January 2021, when contacted byÌýReuters.ÌýÌý

Exxon added that Indonesia's Pertamina has since exercised its right to purchase the interest that would have been sold to CNOOC.Ìý

The statement also said Exxon has filed for arbitration against Basra Oil over Exxon's sale of the West Qurna stake. It did not mention a sale to a USÌýfirm.Ìý

"The sale aligns with ExxonMobil’s strategy to focus on advantaged assets with the lowest cost of supply, including developments in Guyana, Brazil and theÌýUSÌýPermian Basin," the statement said.Ìý

Securing foreign investment is critical for Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC). Oil revenue represents at least 95ÌýpercentÌýof Iraq's income.Ìý