PHOTO
(FILES) This file photo taken on October 10, 2022 shows the logo of TotalEnergies at the Total Energy refinery site, in Gonfreville-l'Orcher, near Le Havre, northwestern France. (Photo by Lou BENOIST / AFP) Image used for illustrative purpose.
Qatar is in talks to buy a stake from French multi-energy company TotalEnergies' $27 billion cluster of energy projects in Iraq, Reuters reported citing sources.
"QatarEnergy is looking to acquire a stake of around 30% in the project, one source said," Reuters reported.
An investment from Qatar is expected to contribute an important victory for Iraqi Prime Minister Mohammed al-Sudani, who took office last year after a long period of political turmoil.
TotalEnergies have been operating in Iraq since the late 1920s in oil and gas exploration and production. The company currently has a 22.5% interest in the Halfaya oil field.
The French company has signed major multi-energy agreements in Iraq covering the construction of a new gas network and treatment units, the construction of a large-scale seawater treatment unit and the construction of a 1 GW photovoltaic power plant, according to its website.
(Writing by Seban Scaria; editing by Brinda Darasha)