Iraq decides the date of signing the Total contract for gas investment

INA - BAGHDAD 

Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani announced on Wednesday, that signing a contract with Total will be within two weeks, noting that the contract aims to invest gas at a rate of 600 cubic meters from 5 oil fields in Basra.

Abdul-Ghani participated in Iraq Forum 2023, speaking in a session entitled "The Energy Sector in Iraq: Main Challenges and Future Strategies, according to a statement by the Ministry of Oil, received by the Iraqi News Agency - INA.

He said that "the contract will be signed with Total within two weeks, and that it aims to invest gas at a rate of 600 cubic meters from 5 oil fields in Basra. The export of oil extracted from the region's oil fields will be resumed after the conclusion of contracts with importing companies as well as the examination of the export pipeline by the Turkish BOTAS company."

Abdul-Ghani added, "We are working to develop the infrastructure for export outlets, and the Prime Minister describes international companies as partners. He instructs to provide an appropriate investment environment," noting that "we will launch the sixth licensing round to develop gas exploration."