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Iraqi Oil Minister: The government agrees to the National Oil Company to enter as a financing partner with Total
Shafaq News/ The Iraqi Minister of Oil announced on Tuesday that the Council of Ministers approved, in its session today, a set of important decisions that support the efforts of the Ministry and the National Oil in implementing their plans to maximize national production of oil and gas, and achieve financial revenues that support the general budget and the national economy.
Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement received by Shafaq News Agency; The Cabinet has decided to approve
The National Oil Company to enter as a financing partner with Total International in its giant project in Basra, and this step aims to expand the commercial and financial activity of the company with the aim of achieving economic returns and building solid partnerships with well-known international companies.
The Minister of Oil referred to the Cabinet's approval to support the National Oil Company's "commercial activity", which aims to maximize revenues and financial returns for the company and the general budget.
Ismail added that the Council of Ministers had also decided to ratify the decisions and procedures of the National Oil Company to maximize Iraq's capabilities to produce oil and gas.
Last month, the Iraqi Oil Ministry signed; A contract with France's Total Energies worth $27 billion to implement four projects in the field of gas and electric power.
Iraqi Oil Minister Ihsan Abdul-Jabbar said in a statement to reporters on the sidelines of signing the contract in Baghdad, "The French Oil Company will build four giant energy projects in the southern province of Basra, worth $27 billion."
Abdul-Jabbar explained that "Total will provide two billion dollars to build gas station facilities in the south," noting that "a third of the investment funds will be spent during the next seven years."
For his part, CEO of Total, "Patrick Pouyanne", said on the sidelines of the signing of the contract, that "the company will start with an initial investment of $10 billion, and that engineering work will begin at the end of this year."
The contract includes four projects, the first is the development of a gas refining complex 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, the construction of a large central gas complex in the Artawi field (southeast); The third project is the establishment of facilities to produce 1,000 megawatts of electrical energy using solar energy.
While the fourth project, the development of the Artawi field with the aim of maximizing the potential of gas supply.
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Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement received by Shafaq News Agency; The Cabinet has decided to approve
The National Oil Company to enter as a financing partner with Total International in its giant project in Basra, and this step aims to expand the commercial and financial activity of the company with the aim of achieving economic returns and building solid partnerships with well-known international companies.
The Minister of Oil referred to the Cabinet's approval to support the National Oil Company's "commercial activity", which aims to maximize revenues and financial returns for the company and the general budget.
Ismail added that the Council of Ministers had also decided to ratify the decisions and procedures of the National Oil Company to maximize Iraq's capabilities to produce oil and gas.
Last month, the Iraqi Oil Ministry signed; A contract with France's Total Energies worth $27 billion to implement four projects in the field of gas and electric power.
Iraqi Oil Minister Ihsan Abdul-Jabbar said in a statement to reporters on the sidelines of signing the contract in Baghdad, "The French Oil Company will build four giant energy projects in the southern province of Basra, worth $27 billion."
Abdul-Jabbar explained that "Total will provide two billion dollars to build gas station facilities in the south," noting that "a third of the investment funds will be spent during the next seven years."
For his part, CEO of Total, "Patrick Pouyanne", said on the sidelines of the signing of the contract, that "the company will start with an initial investment of $10 billion, and that engineering work will begin at the end of this year."
The contract includes four projects, the first is the development of a gas refining complex 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, the construction of a large central gas complex in the Artawi field (southeast); The third project is the establishment of facilities to produce 1,000 megawatts of electrical energy using solar energy.
While the fourth project, the development of the Artawi field with the aim of maximizing the potential of gas supply.
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