Iraq's oil minister said on Tuesday that agreements ​signed between the oil ministry ‌and U.S. companies during Iraqi Prime Minister Ali al-Zaidi's visit to ​the U.S. 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.