Iraq and Total sign $27 bln energy projects deal
The company will start with an initial investment of $10 billion, CEO Patrick Pouyanne said at the signing ceremony, adding that engineering work will start “immediately”.
The plan is to mobilise teams in Iraq by the end of 2021, he said.
Iraqi oil minister Ihsan Abdul Jabbar said the first phase will include a $3 billion investment by the French group in a project to inject sea water into oilfields to enhance crude recovery.
Total, he added, will also provide $2 billion to build a processing plant for gas produced at the southern fields of West Qurna 2, Majnoon, Artawi, Tuba and Luhais.
The other two projects are a solar power plant and one to increase crude output from the Artawi oilfield.
Reporting by Ahmed Rasheed
Writing by Maher Chmaytelli
Editing by David Goodman
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