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"Total" comments on its agreement with Baghdad: a strong message regarding foreign investment in Iraq
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Baghdad today - Baghdad
Total Energies confirmed, on Wednesday, that it had reached an agreement with Iraq regarding its $27 billion project, indicating that the matter sends a strong message regarding foreign investment in the country .
And Iraq announced, on Tuesday, its approval of a smaller share of up to 30 percent in the Total Energies project, which was delayed for a long time, which revived an agreement that Baghdad hopes will attract foreign investment to return to the country that suffered from war .
According to official sources, the Council of Ministers agreed to reduce its share in a project to develop gas, oil and renewable energy resources in the southern region from 40 percent to 30 percent, hoping to resolve the long-delayed project .
The Iraqi government had previously insisted on a 40 percent stake, which delayed the implementation of the project, despite the country's urgent need for gas as fuel for its power stations.
Source: Sky News
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