From the Field
Total to invest billions in Iraq energy projects
BAGHDAD, March 31, 2021 – Total has signed a heads of agreement with the government of Iraq covering projects in natural gas, solar energy and seawater processing.
Iraq’s Ministry of Oil announced the “multi-billion-dollar” investment by Total on Monday, saying the French supermajor’s CEO, Patrick Pouyanné, had signed the HoA on a recent visit.
The projects include a gas production facility for five southern oilfields with an eventual capacity of 17 mcm (600 mcf) per day.
A long delayed seawater injection project will also see new life under the deal as Total takes the helm. Its 2.5 million barrels of seawater per day will be used to boost production at key southern oilfields such as Rumaila, West Qurna, Zubair and Majnoon.
A separate project will see Total enhance production at the Artawi oilfield, bringing output from its current level of 60,000 bopd up to 200,000 bopd. Project schedules were not given by the ministry.
As a fourth development, the French player will build a 1-GW solar plant.
The Iraqi government plans to install 10 GW of solar power capacity by 2030, targeting a 20% share for renewables in its energy mix.