Iraq and TotalEnergies complete a mega contract for 27 billion dollars. This agreement, which covers oil, gas and solar energy, was formalized in Baghdad on Sunday.

The contract between Iraq and TotalEnergies covers four projects in the field of natural gas, solar energy and seawater reprocessing in southern Iraq. The investments will reach a total of some 27 billion dollars (22.7 billion euros), according to the Iraqi Minister of Oil, Ihssan Ismaïl. "This is the largest investment by a Western company in Iraq," he added. One such project aims to bring seawater from the Gulf to oil fields in southern Iraq. The water is used to extract the oil buried in the basements. TotalEnergies will thus invest 2 billion dollars in the construction of a natural gas production station in the five southern fields of West Qurna 2, Majnoun, Artaoui, Tuba and Luhais. The exploitation of solar energy is supposed to reduce Iraq's dependence on fossil fuels. A project which thus consists of setting up a field of solar panels in Artawi, near Basra (south). TotalEnergies plans an initial investment of 10 billion dollars in these four major projects, the engineering works of which will begin immediately.