Home Business Iraqi “oil”: the French Total is developing 4 projects with investments of...

Iraqi “oil”: the French Total is developing 4 projects with investments of 27 billion dollars


Today, Tuesday, the Iraqi Oil Ministry unveiled the details of the projects of the French company Total in Iraq, revealing the value of the investment.

A spokesman for the Iraqi oil ministry, Assem Jihad, said that “the French company Total has entered the development of 4 projects with investments of approximately 27 billion dollars”.

He said the projects include an offshore pipeline extension project and an Artawi field development project, as well as a gas investment with a capacity of 600 million feet. standard in two phases and an investment project of a kilo of solar energy, citing the Iraqi news agency “Ina”.

He added that the first project involves laying the marine oil pipeline that transports sea water to oil fields and aims to support production from oil fields that need water. in large quantities.

He explained that the second project involves the development of the Artawi field and the increase in production, as the production capacity of the field is currently estimated. in 80,000 barrels.

He stressed that the development operations aim to increase the field’s production to over 200,000 barrels per day.

He added that the development of the Artawi field will take place with a contribution of 60% from Total and 40% from the National Oil Company, and after the oil is exported from the field, the costs will be recovered either by the National Oil Company or by the company. investor.

He explained that the development project includes, among others, the construction of a facility and stations related to investments in crude oil and gas.

Read More About: Business News


Exit mobile version