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An agreement between Iraq and "Total" on a $27 billion project
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Economy News - Baghdad
Total Energies confirmed, on Wednesday, that it had reached an agreement with Iraq regarding its $27 billion project there, adding that the matter sends a "strong message" about foreign investment in the country.
On Tuesday, Iraq announced its approval of a smaller stake of up to 30 percent in the long-delayed "Total Energies" project, reviving an agreement that Baghdad hopes will attract foreign investment to return to the country.
An Iraqi government statement stated that 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.
The project, which is one of Iraq's most important projects for investing gas and securing alternative energy, consists of four axes: the first is a project to invest burnt gas in the southern region with a capacity of 600 million standard cubic feet per day, the second is to develop the Artawi oil field, the third is a joint seawater desalination project, and the fourth is a solar energy project with a capacity thousand megawatts.
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Added 04/05/2023 - 1:00 PM
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Economy News - Baghdad
Total Energies confirmed, on Wednesday, that it had reached an agreement with Iraq regarding its $27 billion project there, adding that the matter sends a "strong message" about foreign investment in the country.
On Tuesday, Iraq announced its approval of a smaller stake of up to 30 percent in the long-delayed "Total Energies" project, reviving an agreement that Baghdad hopes will attract foreign investment to return to the country.
An Iraqi government statement stated that 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.
The project, which is one of Iraq's most important projects for investing gas and securing alternative energy, consists of four axes: the first is a project to invest burnt gas in the southern region with a capacity of 600 million standard cubic feet per day, the second is to develop the Artawi oil field, the third is a joint seawater desalination project, and the fourth is a solar energy project with a capacity thousand megawatts.
Views 10
Added 04/05/2023 - 1:00 PM
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