France’s TotalEnergies signs $27b oil, gas, solar deal in Iraq

France’s TotalEnergies signs $27b oil, gas, solar deal in Iraq

BAGHDAD — French energy giant TotalEnergies has signed a $27-billion contract to invest in oil, gas and solar energy production in Iraq, the country's oil minister said on Sunday.

The announcement of the deal, supposed in part to reduce Iraq's reliance on fossil fuels, came as minister Ihsan Ismail signed the contract at a Baghdad ceremony with TotalEnergies chief Patrick Pouyanne.

TotalEnergies has not directly confirmed to AFP the value of the contract.