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Iraq’s Ministry of Oil confirmed it will sign contracts for Gas Growth Integrated Project (GGIP) with French major TotalEnergies on Monday, state-owned Iraq News Agency reported, citing Ministry spokesman Assem Jihad.
The four contracts include:
- Building a seawater treatment plant to provide water injection for pressure maintenance to increase regional oil production
- Development of nearly 600 million cubic metres of associated gas and several oilfields in South Basra governorate
- Boosting output from the Artawi oilfield
- Developing a 1 GW solar power plant to supply electricity to the Basrah regional grid.
In April, TotalEnergies and the Iraqi government jointly defined the necessary conditions and mutual insurances to move forward with the GGIP.
The Iraqi government and Total agreed on a 30 percent stake in the Basrah Oil Company in the GGIP, with QatarEnergy holding a 25 percent stake.
Signed in September 2021, the GGIP’s primary purpose is to enhance the development of Iraq’s natural resources to improve the country’s electricity supply.
(Writing by P Deol; Editing by Anoop Menon)
