QatarEnergy dives in on Iraqi gas consortium
BAGHDAD, April 5, 2023 – QatarEnergy and TotalEnergies have joined hands to create an entity to develop natural gas resources in Iraq, the Qatari NOC announced on Wednesday.
The consortium will consist of TotalEnergies as operator with a 45% stake, QatarEnergy with a 25% share and local energy player Basra Oil Company with a 30% share.
The new company intends to move on the USD 27-billion Gas Growth Integrated Project that was created in September 2021 to maximise gas recovery in the Basra region.
The project consists of four components: a gas treatment facility with a capacity of 17 mcm (600-mcf) per day linking the Ratawi, Majnoon and West Qurna 2 fields; construction of a seawater treatment facility with a capacity of 5 million barrels of water per day; development of the Ratawi field that is expected to produce 210,000 bopd; and development of a 1-GW solar power facility.
The partnership is subject to regulatory approvals.