Friday, June 21, 2024

Baghdad

TotalEnergies to complete initial phases of energy projects in Iraq in 2025

 TotalEnergies to complete initial phases of energy projects in Iraq in 2025

The tower housing the headquarters of the oil company TotalEnergies in Courbevoie, France. Photo: Depositphotos

Baghdad (IraqiNews.com) – TotalEnergies CEO, Patrick Pouyanne, said on Sunday that the company aims to complete the first phases of solar power and associated gas projects in Iraq in 2025.

Pouyanne’s remarks took place his meeting with the Iraqi Prime Minister, Mohammed Shia Al-Sudani, on the sidelines of their participation in the World Economic Forum held in the Saudi capital, Riyadh, according to a statement released by the Prime Minister’s Office (PMO).

Out of the 300 million cubic feet of gas planned, 50 million cubic feet will be produced when the first phase of TotalEnergies’ associated gas project in Iraq is completed, according to Pouyanne.

Last 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.

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 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.