TotalEnergies pens $27bn in Iraqi energy deals
French major TotalEnergies has signed deals to invest in oil, gas, water and solar projects in Iraq worth $27bn, the Iraqi government said on September 5.
TotalEnergies CEO Patrick Pouyanne was in Baghdad to sign the deals, which follow a preliminary agreement the French company reached in July to develop the Ratawi gas field in south Iraq. The company has been in talks with Iraq on investing in new projects since last year.
Under the new deals, TotalEnergies will help Iraq raise oil production at the Artawi oilfield, also in south Iraq, from the current 85,000 barrels/day to 210,000 b/d, applying modern technology to the project and training Iraqi workers. It will also help build a 600mn ft3/d complex for treating associated gas at the site. This complex will provide commercial gas that can help reduce Iraq's imports from Iran, which were disrupted recently.
TotalEnergies will also assist in building a 1,000-MW solar plant, and a pipeline to pump seawater from the Gulf to oilfields in south Iraq, where it can be used to boost oil recovery.