High-Level meeting between Iraqi Deputy Prime Minister and Total Energies delegation to discuss multi-billion dollar energy projects
Shafaq News / Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, met with a delegation from Total Energies on Wednesday, September 13th. During the meeting, they discussed the company's plans for implementing recently concluded projects in Iraq.
The company's delegation included Laurent Vivier, the Regional Director for the Middle East and North Africa, the Director of the Middle East Exploration sector, and Dunia al-Jalabi, the Director of Total Energies Iraq Branch, as stated in a press release by the Ministry of Oil.
The statement elaborated that the meeting focused on exploring prospects for mutual cooperation in the oil and energy sector. It also addressed Total Energies' plans and programs for the execution of contracts recently signed with national oil companies. These contracts are aimed at investing in gas, field development, offshore water transportation and processing, as well as a solar energy project for electricity generation.
Iraq and the French giant Total Energies signed an eagerly awaited $27 billion energy agreement on July 10th last year. The agreement seeks to increase oil production and enhance the country's electricity generation capacity through four oil, gas, and renewable energy projects.
The deal was initially inked in 2021 with an initial investment of $10 billion in southern Iraq over a 25-year period. However, it was delayed due to disputes among Iraqi politicians over the terms.
The agreement was finalized in April when Iraq agreed to take a smaller share than initially required, at 30%, with Total Energies holding 45%, and Qatar Energy owning the remaining 25%.
The integrated Gas Growth project (GGSIPU) aims to improve electricity supplies in the country, including through the recovery of flared gas in three oil fields to supply power stations.
Total Energies also announced plans to develop a 1-gigawatt solar power station to supply electricity to the regional Basra grid and invited Saudi Arabia's Aqua Power to join the project.
