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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Will the French company Total withdraw from Iraq? .. Nabil Al-Marsoumi

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    Will the French company Total withdraw from Iraq? .. Nabil Al-Marsoumi Empty Will the French company Total withdraw from Iraq? .. Nabil Al-Marsoumi

    Post by Rocky Tue 12 Jul 2022, 5:30 am


    [size=30]Will the French company Total withdraw from Iraq? .. Nabil Al-Marsoumi

    2022-07-12
    [/size]
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    Nabil Al Marsoumi wrote:

    According to private information from reliable sources, the French company Total decided to withdraw at the end of July from the initial agreement it signed with the Iraqi Oil Ministry, in September 2021, due to the delay in forming the Iraqi government and the inability to convert the initial agreement into a final contract between them. The previous agreement included the implementation of four projects in Basra worth 27 billion dollars in the field of oil, gas and electric power. The first is the development of a gas complex and refining of gas in all fields, outside the Basra Gas Agreement, which are the fields of (Artawi, West Qurna/2, Majnoon, Al-Touba, Al-Luhais). The second project is related to the transfer and treatment of sea water with a capacity of 5 million barrels per day to maintain and increase production from the oil fields. And the third project, the establishment of facilities to produce 1,000 megawatts of electric power based on solar energy. And the fourth project, the development of the Artawi oil field with the aim of maximizing the potential of gas supplies. The implementation of the project was delayed due to the Oil Ministry's failure to obtain approvals on the financial details of the deal from all government departments whose approval was required, and it sank into many disputes. The agreement raised concerns because the agreement was signed without procedures that guarantee competition and transparency. The sources say that under the draft terms, Total is counting on obtaining ten billion dollars of the first investment to finance the broader project by selling oil from the Artawi oil field, which is one of the four projects in the broader agreement. The Artawi field is currently producing 85 thousand barrels per day, and Total seeks to increase it to the level of 210 thousand barrels per day, and Total is scheduled to get 40% of the sales of the Artawi field to pay the amount that the company spent. The sources say that under the draft terms, Total is counting on obtaining ten billion dollars of the first investment to finance the broader project by selling oil from the Artawi oil field, which is one of the four projects in the broader agreement. The Artawi field is currently producing 85 thousand barrels per day, and Total seeks to increase it to the level of 210 thousand barrels per day, and Total is scheduled to get 40% of the sales of the Artawi field to pay the amount that the company spent. The sources say that under the draft terms, Total is counting on obtaining ten billion dollars of the first investment to finance the broader project by selling oil from the Artawi oil field, which is one of the four projects in the broader agreement. The Artawi field is currently producing 85 thousand barrels per day, and Total seeks to increase it to the level of 210 thousand barrels per day, and Total is scheduled to get 40% of the sales of the Artawi field to pay the amount that the company spent.
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