Qatari firms show interest in taking part in Iraq’s deal with TotalEnergies
The TotalEnergies logo placed on the company’s headquarters in Paris, France. Photo: Reuters
Baghdad (IraqiNews.com) – A source in the Iraqi oil sector revealed on Sunday that Qatari companies showed interest in participating in the deal signed between the Iraqi government and TotalEnergies.
The advisor to the Minister of Oil for Energy Affairs, Abdul Baqi Khalaf, told the Iraqi News Agency (INA) that the sixth bidding round has now been announced, urging Arab and foreign companies to participate in this round.
Khalaf explained that there are promising business opportunities in the oil and gas sectors in Iraq, indicating studies with a positive vision about oil fields.
In July, TotalEnergies signed a $27 billion energy deal with the Iraqi government to increase Iraq’s capacity to produce energy through oil, gas, and renewable energy projects, according to Reuters.
The projects are mainly the development of the Artawi oilfield to increase its production capacity, the use of seawater to support oil extraction operations, the Gas Growth Integrated Project (GGIP), aiming to recover flared gas in different oilfields, and the development of a 1-gigawatt solar power plant to supply southern Iraq with electricity.
The deal was signed in 2021 to build four oil, gas, and renewable energy projects with an initial investment of $10 billion in southern Iraq over 25 years, but several setbacks amid disputes between Iraqi politicians over the terms hindered the deal.
TotalEnergies CEO Patrick Pouyanne signed the agreement with the Iraqi Minister of Oil, Hayan Abdel-Ghani, at a ceremony held in Baghdad, where Pouyanne described the event as a ‘historic day.’
The Director General for Studies and Planning at the Iraqi Oil Ministry, Naseer Aziz Jabbar, explained that energy projects carried out by TotalEnergies in Iraq will be completed in 2028 and 2029.