TotalEnergies plans $4B increase in Iraq investments

Shafaq News- Paris/ Baghdad

TotalEnergies plans to raise its investments in Iraq from $12 billion to $16 billion, Chairman and CEO Patrick Pouyanné said on Monday, expressing readiness to expand cooperation across the oil and energy sectors during talks with Prime Minister Ali Al-Zaidi in Paris.

The meeting focused on the company’s strategic projects, particularly in the gas sector. Al-Zaidi outlined government efforts to expand the use of associated gas to achieve self-sufficiency and increase crude production capacity to 10 million barrels per day over the next five years.

He also highlighted broader exploration efforts across Iraq and preparations for an international energy conference in Baghdad.

Read more: TotalEnergies pushes alternative Iraqi pipelines to west

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