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Economy News _ Baghdad
On Thursday, the Basra Oil Company expected the acquisition rates of Iraq and Qatar in four giant projects of the French Total company in the south of the country, at a value of $ 27 billion.
The head of the Basra Oil Company, Bassem Abdul Karim, said, "It is expected that" Qatar Energy "will acquire a stake ranging between 20 and 25 percent in the energy projects group of Total Energy (TTEF.PA) amounting to $ 27 billion in the country, while Iraq aims to Acquisition of about 40%.
And the Reuters news agency quoted Abdul Karim as saying, "Iraq determines its share as a state, and then the rest goes to Total and Qatar Energy Company," expecting that "the latter will not exceed its share by more than 20-25 percent."
The Total Energizer deal, for which the investment amount was estimated at $27 billion and requires initial investments of $10 billion, followed French President Emmanuel Macron's visit to Iraq in September 2021.
The deal includes the establishment of a network to collect natural gas to supply local power plants through the expansion of the Artawi field, the construction of a seawater treatment facility to boost production from fields with water injection technology, and the establishment of a large solar power plant in Basra, but there has been little progress since then, according to sources. Last year, disagreements regarding the terms of the agreement threatened to cancel the project.
Last September, the Iraqi government announced the "signing in initials" of an "umbrella agreement" for investment projects for gas associated with oil extraction, development of oil fields, and the establishment of a solar-powered power plant, with the French company Total.
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