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Oil discloses details of 4 investment projects for the French company Total
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Today, Tuesday, the Ministry of Oil clarified the details of the projects of the French company Total in Iraq, while revealing the investment value of it.
The spokesman for the Ministry of Oil, Assem Jihad, said in an interview with the Iraqi News Agency, and followed by "Economy News", that "the French company Total has entered into the development of four projects with investments estimated at (27) billion dollars, including the project to extend the marine pipeline and the project to develop the Artawi field, as well as an investment Gas capacity of 600 million standard feet in two phases and one investment project Kikah of solar energy.
And he indicated that "the first project includes laying the marine pipeline that transports sea water to the oil fields and aims to maintain production from the oil fields that need water in large quantities."
He explained that "the second project includes developing the Artawi field and increasing production, as the field's production capacity is currently estimated at (80) thousand barrels," noting that "the development operations aim to increase the field's production to more than 200 thousand barrels per day."
He added that "the development of the Artawi field will be with the contribution of Total 60 percent and the National Oil Company by 40 percent, and after the oil is exported from the field, the costs will be recovered, whether to the National Oil Company or by the investing company," stressing that "the development project includes building a facility and stations related to oil." Crude, gas investment, and more.
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