Iraq’s oil deal with Total to enter ‘execution phase’ – INA

The logo of Total is pictured at the company’s headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. (Reuters)

SULAIMANI (ESTA) — Iraq’s oil ministry said on Friday that its agreement with France’s Total will go into its “execution phase” during the first quarter of 2022, the state news agency (INA) reported, citing a ministry statement.

Total will build four giant energy projects in southern Iraq under a $27 billion deal signed in Baghdad in September.

Iraqi oil minister Ihsan Abdul Jabbar said in October that the first phase would include a $3 billion investment by the French group in a project to inject sea water into oilfields to enhance crude recovery.

The French company would 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, he added.

It is expected to produce 300 million cubic feet of gas per day (mcf/d) and double that after a second phase of development, the minister said.

The other two projects are a solar power plant and one to increase crude output from the Artawi oilfield.

Total would help to boost output from the Artawi oilfield to 210,000 barrels per day of oil (bpd) from 85,000 bpd now, an oil ministry statement said.

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