Oil signed four contracts with the French Total to invest in gas and prevent its flaring

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[size=52]Oil signed four contracts with the French Total to invest in gas and prevent its flaring[/size]

[size=45]Yesterday, Monday, the Ministry of Oil signed four contracts with the French company Total for integrated oil and gas development projects. "Signing these contracts with the French company Total and its partners is important, as these efforts fall within the integrated projects of the south, which include four major and large projects for the oil and gas sectors," said Oil Minister Hayan Abdel-Ghani, in a speech during the signing ceremony of the contracts.[/size]
[size=45]Abdul-Ghani continued, "The first of these projects is the use of the sea for the purposes of reservoir support, which is one of the projects with great economic feasibility and aims to provide sea water to support the reservoir pressure in the various oil fields." He pointed out, "The other project is the investment of associated gas with a capacity of 600 million cubic feet per day, divided between two phases, each phase 300 cubic meters."[/size]
[size=45]Abdel-Ghani pointed out that "this project comes within the projects, plans and strategy of the government and the ministry to convert it into electric energy," stressing that "all industries are linked to it, in addition to preserving the environment and health."[/size]
[size=45]He stated, "The third project is to develop the Artawi oil field and increase production from this field to more than 210,000 barrels per day." Abdel-Ghani noted, "The field produces special, light oil with a temperature of more than forty degrees, and it is considered one of the excellent fuels in the region." He continued, "The fourth contract project represents an important addition to the renewable energy sector in Iraq, which is the investment of solar energy with a capacity of one gigawatt, or 1,000 megawatts. It is one of the largest energy consolidation projects in the region and the real start for renewable energy investment in Iraq."[/size]
[size=45]And Abdul-Ghani went on to say that “the achievement of the requirements of these fields has received a lot of work, study and discussion, and it took a lot of time and effort. The teams and groups for negotiation and training for the team representing the Ministry and the team representing Total have made a lot of effort and hard work, to reach the path that satisfies all Interested parties".[/size]
[size=45]He explained, "These contracts were carried out with the care of the Council of Ministers, led by Prime Minister Muhammad Shia'a al-Sudani, who was keen to follow up and focus on all concerned parties to overcome obstacles, difficulties and procedures to fulfill the requirements of this fuel."[/size]
[size=45]And Abdul-Ghani concluded, “To proceed with Total and with all partners to serious and fruitful cooperation in order to start implementing these contracts on the ground in order to reap the fruit of this cooperation and success and achieve the great achievement in service of the common interest, which will reflect positively on the reality of the oil industry, foreign affairs, energy and Iraq.”[/size]
[size=45]For his part, the CEO of the French company Total Energies, Patrick Pouyanné, said in a speech to him, “It is a historic day to launch the signing of the agreement for the four large projects, and it is very important that the fifteenth president of the French company Total be in Baghdad, to continue the historical relationship with Iraq.”[/size]
[size=45]Pouyanne added, "The contract was signed in September 2021, and it represents great importance, and we are working on this partnership in order to achieve the success of the project," expressing his thanks to "the Prime Minister, Muhammad Shia' al-Sudani, as well as the Minister of Oil, for leading these negotiations positively." He welcomed the "partners represented by the Basra Oil Company and Qatar Energy," pointing out that "these projects aim to achieve all the interests of the Arab countries."[/size]
[size=45]Pouyanné affirmed, "The President of the Republic of France is supportive of these projects, and the company is fully prepared to go towards implementing them, especially since they are long overdue," noting that "these projects will benefit the oil industry in Iraq." He pointed out that "there is a plan that will be in order to provide 5 million barrels of water to contribute to supporting oil reservoirs, as well as to produce drinking water for the residents of Basra."[/size]
[size=45]Pouyanne affirmed, "These projects will achieve great support not only for the gas industry in Iraq, but also for reinvestment in flared gas, as well as in generating electric power for the citizens of Iraq."[/size]
[size=45]He stressed that "electricity is a major necessity, and the company will produce it from gas through the exploitation of burning gas, as well as through solar energy."[/size]
[size=45]Pouyanne pointed out, "These projects will be operated better, especially since Iraq has the best resources, such as oil and gas, as well as solar energy." He continued, “Our new strategy is represented in the optimal use of natural resources, including solar energy, as well as reducing carbon emissions through these projects that will be implemented in various fields, in addition to reducing gas emissions by more than 15 million tons.”[/size]
[size=45]Pouyanné warned, "The Iraqis are the ones who will implement these projects, and the company in Iraq has many experts in the oil and gas sector." And he stated, "The company's plan is to adopt Iraqi competencies by providing job opportunities for Iraqis, and it is one of the important goals that the percentage of Iraqi workers be more than 95%." And Pouyanne said, "Total is a global company, but at the same time it is local in every country in which it operates because it relies on partnerships in implementation, which will be done by working with Iraqi companies and Iraqi workers."[/size]
[size=45]And he indicated that “these projects represent an investment of more than 10 billion dollars,” addressing other international companies by saying: “You have to come to one Iraq to invest, especially since the past months have turned communication into a reality that represents a signal for the implementation of these projects not only for Total, but certainly to all foreign investors.[/size]
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