Iraq will sign a contract with France's TotalEnergies on investments in five oil fields in Basra in the next two weeks, the Iraqi oil minister said Thursday
DOHA (Pakistan Point News / Sputnik - 04th May, 2023) Iraq will sign a contract with France's TotalEnergies on investments in five oil fields in Basra in the next two weeks, the Iraqi oil minister said Thursday.
"The contract aimed at investing in mining of 600 cubic meters of gas from five gas fields in Basra will be signed with Total within two weeks," Hayan Abdul Ghani, Iraqi Deputy Prime Minister for Energy Affairs also serving as Oil Minister, was quoted by INA as saying.
During his speech at Iraq Forum 2023, Ghani said that the government has been working on gas export infrastructure development, referring to Prime Minister Mohammed al-Sudani's instruction to provide the gas industry with appropriate investment.
In September 2021, TotalEnergies reached an agreement with the Iraqi government on a $27 billion investment in the development of oil and gas fields in Iraq. The agreement is designed to enhance production capacities in oil extraction and provide stability in electricity supply.
