At a value of $27 billion... Iraq and France's Total sign the "desired" energy deal[You must be registered and logged in to see this link.] |Today, 11:[You must be registered and logged in to see this image.]
Baghdad today - Basra
Today, Monday, Deputy Prime Minister and Minister of Oil Hayan Abdel-Ghani announced the signing of a gas development and growth agreement with the director of the French company Total, at a value of about $27 billion.
The media office of the Minister of Oil said, in a statement received by "Baghdad Today", that "the project will end most of the gas burning operations in the fields, and we will work through the project to establish a sea water plant with a capacity of 5 million barrels per day, which will make us not need water that serves the citizen as well as the use of solar energy." Through the project, electric power will be generated with a capacity of 1,000 megawatts, which is the largest station to be built in Iraq.
He added, "The importance of the project lies in the multiplicity of specializations, and the benefit from it is great, as we will stop using river water to benefit from it in agriculture and other services that citizens need."
The Minister of Oil affirmed that "the project will contribute to ending gas burning and preserving the environment, since Iraq has signed agreements to preserve the environment, as well as contributing to limiting foreign imports of gas in order to operate electrical stations."
Abdul-Ghani indicated that the fifth round of complementary licenses and the sixth licenses, which concern thirteen exploration blocks, which are spread on the western borders of Iraq, especially Syria, Jordan and Saudi Arabia, in addition to the existing blocks in the Samawah and Diwaniyah governorates, will contribute to the progress in ending gas flaring as a basic goal, in addition to benefiting from the increase in Iraq’s energy from oil and gas".
It is noteworthy that the value of the contract signed with the French company Total amounted to 27 billion dollars.
The agreement aims to increase oil production and enhance the country's ability to produce electricity with four oil and gas projects and renewable energy sources.
The Gas Growth Integrated Project (GGSIPU), also aims to improve the country's electricity supply, by recovering flared gas in three oil fields to supply power stations.[You must be registered and logged in to see this link.]