SULAIMANI (ESTA) — Iraq has signed heads of agreement with French oil giant Total to build four giant energy projects in the Middle East country, the country’s oil ministry said on Monday.
The initial agreement was signed during a visit by Total Chief Executive Patrick Pouyanne, the ministry said in a statement.
The agreement includes a seawater project and plants for processing natural gas, according to the ministry.
Oil Minister Ihsan Abdul Jabbar told Asharq News in an interview that aired on Saturday that Iraq was discussing a “giant” agreement with Total to build infrastructure installations, develop oil fields and produce gas, according to Bloomberg.
He said the relationship with Total would be based on targeting low-carbon industry and capturing all flaring gas, Bloomberg reported. The company is also set to produce IGW of solar energy in the first stage, he added.
“The agreement is giant, and the volume of the investment exceeds $7 billion,” Bloomberg quoted Abdul Jabbar as saying.
In January, the Iraqi oil ministry signed a memorandum of understanding with Total CEO Patrick Pouyanne on capturing natural gas and clean energy infrastructure.
