Qatari companies express interest in joining Iraq’s TotalEnergies deal

Iraqi oil sector sources disclosed on Sunday that Qatari firms have shown keen interest in participating in the lucrative agreement inked between the Iraqi government and TotalEnergies.

Abdul Baqi Khalaf, the Energy Affairs Advisor to the Minister of Oil, announced the commencement of the sixth bidding round, inviting both Arab and foreign companies to engage in this opportunity. Khalaf emphasized the potential in Iraq’s oil and gas sectors, citing positive studies on oil field developments.

The $27 billion energy deal, signed in July between TotalEnergies and the Iraqi government, aims to enhance Iraq’s energy production across oil, gas, and renewable projects. Key initiatives include the expansion of the Artawi oilfield, leveraging seawater for oil extraction support, the Gas Growth Integrated Project (GGIP) for recovering flared gas, and the establishment of a 1-gigawatt solar power plant to supply electricity to southern Iraq.

Despite its initial announcement in 2021, the deal faced hurdles due to disputes among Iraqi politicians over its terms. TotalEnergies CEO Patrick Pouyanne and Iraqi Minister of Oil Hayan Abdel-Ghani officially signed the agreement in Baghdad, marking it as a ‘historic day.’ Naseer Aziz Jabbar, Director General for Studies and Planning at the Iraqi Oil Ministry, revealed that TotalEnergies’ energy projects in Iraq are set for completion in 2028 and 2029.