Iraq signs a deal with Total to build 4 energy projects worth $27 billion

The Iraqi Oil Minister said that the French oil giant Total will build four giant energy projects in the south of the country, worth $27 billion, according to an agreement signed in Baghdad on Sunday.
A Total official said during the signing ceremony that the company would start with an initial investment of $10 billion, noting that engineering work would start at the end of this year, according to “Reuters”.

Last March, the Iraqi Ministry of Oil announced the signing of an agreement of principles with the French company Total to implement 4 projects, including the construction and investment of complexes and units for the treatment and investment of associated gas, in two phases with a capacity of 600 million standard cubic feet, in addition to the Artawi oil field development project in the south of the country. .

And the Iraqi Oil Minister, Ihsan Abdul-Jabbar, explained, in a statement published by the ministry, that it was agreed with the French “Total” to implement 4 giant projects, and the first project, which is the most important, as he put it, is a project to collect and refine gas in all fields outside the Basra Gas Agreement, which are the [Artawi fields]. West Qurna/2, Majnoon, Al-Touba, Al-Luhais] in which large quantities of gas are burned.

The Paris-based Total Company is one of the six largest oil companies in Iraq, and it has investments in different parts of Iraq.