Business & Economy

Iraq signs 4 huge contracts with “Total”

The Iraqi government signed contracts with the French company Total worth 27 billion dollars in the fields of oil, gas and solar energy.
According to a statement by the Iraqi government, 4 contracts were signed, the first includes the development of the Artawi oil field, whose production is 85,000 barrels per day, to a peak production of 210,000 barrels per day.
The second project includes the construction of an Artawi gas complex with a capacity of 600 million feet, which leads to a reduction in gas imports from neighboring countries, the production of an amount of condensate estimated at 12000 barrels per day, and the production of an amount of LPG estimated at 3000 tons per day for the local market.
As for the third project, it includes the joint sea water supply, with the exception of part of the pipeline network with a capacity of 5 million barrels of water per day, the treatment plant and a design capacity of 7.5 million barrels of water per day.
The fourth includes the establishment of an electric power plant that relies on solar energy, to produce electrical energy at a cost of less than 45% of the cost of energy production from current power stations, with a total production capacity of 1000 megawatts.

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