Doha: Iraq and Syria have signed a Memorandum of Understanding to rehabilitate a cross-border oil pipeline project. According to Qatar News Agency, the Iraqi News Agency reported that US energy corporation Chevron would carry out the project that links Iraq's Haditha and Syria's Baniyas. The project aims to revive a crucial energy corridor between the two nations. The Iraqi News Agency further revealed that Baghdad plans to seal 50 agreements and Memorandums of Understanding with US partners, with a combined value of $60 billion. This move is seen as a significant step towards strengthening economic ties and enhancing energy cooperation in the region. Washington welcomed the initiative, describing the project as essential to bolstering regional security and stability. The involvement of Chevron, a major US corporation, underscores the strategic importance of this rehabilitation effort. Separately, Chevron announced it had signed a framework agreement with the governments of Iraq and Syria to carry out the pipeline project. In addition to this, Chevron revealed deals with Iraq to advance commercial talks aimed at developing the West Qurna 2 and Nassiriya oilfields. These developments are expected to boost Iraq's oil production capacity and provide a significant impetus to the region's energy sector.