The Iraqi Ministry of Oil announced on Monday the signing of an initial agreement with French oil and gas company Total to build giant infrastructures, develop an oil field, produce gas, and establish a solar energy project in southern Iraq.
Iraqi Minister of Oil Ihsan Abdul-Jabbar Ismail pointed out that one of the four projects is to build installations used to collect and refine gas extracted from the fields of Artawi, West Qurna/2, Majnoon, Tuba, and Lahis, as well as a central gas complex in Artawi for full investment in gas, according to a ministry statement.
"This project is one of the most important development projects the country will have this year and the following years," the statement quoted Ismail as saying.
The second project is to pump seawater into wells to boost oil output, while the third one is to develop Artawi oilfield in the southern province of Basra, the minister added.
Total also agreed with the Iraqi Ministry of Electricity on a solar energy project with a capacity of 1,000 megawatts, according to the statement.
Ismail said the initial agreement of the four projects would need approval from the Iraqi Council of Ministers, adding discussions with Total on these projects have been going on since October 2020.
"Total will pump billions of dollars into the four projects," he noted.
Iraq holds 132 trillion cubic feet of proven natural gas reserves and the ministry is keen to invest in gas to meet the country's need for gas energy.
Iraq's economy relies heavily on the export of crude oil, which brings in more than 90 percent of the country's revenues.
Editor: Leon
