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The oil minister reveals a giant agreement with a French company to develop gas fields
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On Sunday, Oil Minister Ihsan Abdul-Jabbar revealed that Iraq is discussing a "gigantic agreement" with the French company Total CI to build large infrastructure facilities, develop oil fields and produce gas, while noting that the country is trying to diversify its gas imports.
"Iraq is discussing a gigantic agreement with the French giant Total CI to build large infrastructure facilities, develop oil fields and produce gas," Abdul-Jabbar said in a press interview.
He explained that "the contract is expected to be completed before July, and the relationship with Total will be based on targeting the low-carbon industry and seizing all burning gas. It is scheduled to produce 1 gigawatt of solar energy in the first phase," noting that "a specialized team from The Ministry of Oil will lead these discussions with Total. "
The minister pointed out that "the agreement is gigantic, and the volume of investment exceeds $ 7 billion," noting that "the conditions, including political and administrative decisions for the economic model that protects the rights of the two parties, have already been agreed upon."
And that "Iraq will reduce its imports of gasoline and oil gas by 50% in 2021 and 90% in 2022," stressing that "Iraq will need a very limited volume of gas oil imports to support power generation."
Abdul Jabbar pointed out that "Iraq is now buying gas from Iran and is trying to diversify imports from Qatar, Kazakhstan and other producers."
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