TotalEnergies signs $27bn Iraq deal – MEED

TotalEnergies signs $27bn Iraq deal – MEED

France’s TotalEnergies has signed four major contracts with Iraq as part of the $27bn Gas Growth Integrated Project (GGIP), according to a statement released by the country’s oil ministry.

TotalEnergies Chairman and CEO Patrick Pouyanne signed the contracts with Iraqi oil minister Hayan Abdel-Ghani at a ceremony in Baghdad, with Pouyanne calling it a "historic day".

The long-delayed deal was originally signed in 2021 and involves TotalEnergies developing four energy projects with an initial investment of $10bn in southern Iraq.