Tag: TotalEnergies

Baghdad: TotalEnergies has begun the final phase of its $27 billion multi-energy project in Iraq, a major investment aimed at boosting oil, gas, and power production while reducing the country’s reliance on energy imports from Iran. The initiative, known as the Gas Growth Integrated Project, is a partnership between TotalEnergies (45%), Iraq’s state-owned Basra Oil Company (30%), and QatarEnergy (25%). The latest contracts include work on the Ratawi oil field and a seawater treatment plant, designed to maintain well pressure without using freshwater. The revised deal introduces a new revenue-sharing model, replacing fixed-fee terms, which Baghdad says will offer “better returns for both foreign investors and Iraq.” Also Read | Iraqi PM urges Muslim nations to unite in collective shield against Israel By 2028, the Ratawi field is expected to produce around 210,000 barrels per day. The project also plans to capture flared gas, build a processing facility with a capacity of 600 million standard cubic feet per day, and develop a 1-gigawatt solar park. Iraqi Prime Minister Mohammed Shia al-Sudani welcomed the move, calling it a sign of stronger foreign investment and a step toward modernizing Iraq’s energy sector.

Tag: TotalEnergies

TotalEnergies launches final phase of $27 billion Iraq energy project

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TotalEnergies launches final phase of $27 billion Iraq energy project

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