Iraq, TotalEnergies sign long-delayed energy deal
Iraq, TotalEnergies sign long-delayed energy deal
BAGHDAD –
Iraq and French oil major TotalEnergies on Monday signed a long-delayed $27 billion energy deal that aims to increase oil production and boost the country’s capacity to produce energy with four oil, gas and renewables projects.
Signed in 2021, the deal has faced delays amid disputes between Iraqi politicians over the terms, but was finally closed in April when Iraq agreed to take a smaller than initially demanded stake in the project of 30%.
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