PARIS (Reuters) – TotalEnergies confirmed on Wednesday an agreement with the Iraqi government on a 30% stake in Iraq in a vast project of the French energy group in this country.
“The Iraqi government and TotalEnergies have agreed on a 30% stake of the Basrah Oil Company (BOC) in the GGIP project. In addition, in agreement with the Iraqi government, TotalEnergies has invited QatarEnergy to take a stake of 25% in this project.”
Sources had told Reuters in January that QatarEnergy was also looking to acquire a roughly 30% stake in the project.
The agreements provide that TotalEnergies and its partners will invest around 10 billion dollars, specifies the oil group.
TotalEnergies and Iraq signed an investment project in September 2021, relating to four projects in natural gas, solar energy and seawater reprocessing in the Basra region, which remained in development for a long time. death due to disputes over the terms of the contract.
Iraq wanted a 40% stake in the project, while TotalEnergies wanted to retain a majority stake. Finally, sources had told Reuters on Tuesday that the two parties had finally agreed on a 30% stake.
(Written by Bertrand Boucey and Kate Entringer, edited by Matthieu Protard)
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