BAGHDAD: ‌Iraq’s oil minister said on Tuesday that agreements ​signed between the oil ministry and US companies during the Iraqi Prime Minister Ali Al-Zaidi’s visit to US were estimated ‌at $200 billion.

In ‌an interview ​with ‌Iraqi ⁠state ​television, the ⁠minister Basim Mohammed said the agreements would add significant oil production capacity and increase investment in associated ⁠gas projects.

He also said ‌Iraq’s ‌oil production capacity ​currently ‌stands at 4.8 million barrels ‌per day.

Iraq grapples with the challenge faced by many oil-producing nations: attracting ‌investment and expanding production while remaining constrained by ⁠the ⁠OPEC+ producers’ group output limits.

Though Iraq holds some of the world’s largest crude oil reserves, longstanding production restraints have complicated ambitions to raise revenues to support a ​rapidly ​growing population.