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TotalEnergies targets 2025 for first phase of Iraq projects

TotalEnergies Iraq World Economic Forum/Sikarin Fon Thanachaiary
Patrick Pouyanné spoke at the World Economic Forum in Riyadh,alongside Saudi Arabia's energy minister Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud and Maria Fernanda Suarez, Colombia's minister of mines and energy
  • CEO Patrick Pouyanné aims for 2025
  • Meeting with Iraqi PM on WEF sidelines
  • Combination of oil, gas and renewables

France’s TotalEnergies aims to complete the first phase of a solar power project and the initial phase of the associated gas project in Iraq in 2025, its chief executive Patrick Pouyanné has said.

Pouyanné met with the Iraqi prime minister, Mohammed Shia Al-Sudani, on the sidelines of the World Economic Forum in Riyadh, the Iraqi prime minister’s office said in a statement published on social media platform X (former Twitter) on Sunday.

The first phase of the gas project will have a production capacity of 50 million cubic feet (mcf), with a total capacity of 300 mcf, Pouyanné said.

Pouyanné and Al-Sudani also discussed the potential use of water from desalination projects in Basra for the French company’s oil projects in the region.

TotalEnergies and Iraq signed a $27 billion deal last July to develop four projects in southern Iraq to increase the country’s capacity to produce oil, gas, and energy from renewables.

The French company has a 45 percent stake, Basrah Oil Company has a 30 percent share and Qatar Energy holds 25 percent in the project.

The so-called Gas Growth Integrated Project involves an initial investment of $10 billion over four years; the overall value includes operating expenses over 25 years.

It includes raising output at the Ratawi southern oil field, constructing a 1GW solar power plant, and a a facility capable of processing 600 million cubic feet of gas per day.

Baghdad wants to nearly double oil output to 8 million barrels per day (bpd) by 2028. The country also needs gas for power generation; today, it relies on imports from Iran.

Last October, Iraq passed a long-awaited oil and gas law to attract more international investments into the hydrocarbon industry and boost government revenues. 

UAE’s Crescent Petroleum operates two of Iraq’s largest non-associated gas fields, Khor Mor and Chemchemal, through Pearl Petroleum, a consortium with Dana Gas, Austria’s OMV, Germany’s RWEST, and Hungary’s Mol Group.

It has invested nearly $4 billion in Iraq’s projects.Last week, a drone attack on Khor Mor killed four people and resulted in the suspension of production at the site. No group has claimed responsibility for the attack.

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