TotalEnergies Investment in Iraq to Rise to $16bn

By John Lee.

Patrick Pouyanné, chief executive of TotalEnergies, met Iraqi Prime Minister Ali al-Zaidi in Paris on Monday to review the company's strategic projects in Iraq, with a particular focus on gas. According to the Prime Minister's media office, TotalEnergies has existing oil investments in Iraq of $12 billion and is planning to increase these to $16 billion.

Al-Zaidi outlined government plans to expand associated gas investment with the aim of achieving self-sufficiency, as well as targets to increase oil production over the next five years to reach 10 million barrels per day. He also indicated that preparations are under way to hold an international energy conference in Baghdad.

Pouyanné confirmed the company's readiness to cooperate with Iraq in the oil and energy sectors.

(Source: Ministry of Electricity)

Related posts:

Why is Energy-Rich Iraq still having to Import Electricity? Kurdistan Region Investment Projects Top $80bn Iraq Approves AI Engineering Clubs at Five Universities Iraq-US Talks on Oil and Economic Partnership