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Asharq Al-Awsat

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Asharq Al-Awsat

TotalEnergies, Iraq Agree on Delayed $10 Bn Project

TotalEnergies Iraq Patrick Pouyanne Oil Electricity Sudani

An Iraqi man herds his cows on the Shatt al-Arab river next to the Nahr Bin Omar oil field and facility near Iraq's southern port city of Basr on April 4, 2023. (AFP)

French energy giant TotalEnergies announced Wednesday an agreement with Iraq on a long-delayed $10 billion project to improve the country's rundown electricity grid after resolving disputes over the terms of the deal.

The contract -- which includes investments in oil, gas and solar production -- was signed in September 2021 but a new government took office in Iraq last year and its demands did not please TotalEnergies.

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