TotalEnergies, the Iraqi Ministries for oil and electricity and the country's National Investment Commission have signed, in the presence of the Prime Minister of Iraq, major agreements covering several projects in the Basra region, designed to enhance the development of Iraq's natural resources to improve the country’s electricity supply. Iraq, a country rich in natural resources, is indeed experiencing electricity shortages while it faces a sharp increase in demand from the population. TotalEnergies, with the support of the Iraqi authorities, on the one hand will invest in installations to recover gas that is being flared on three oil fields and as such supply gas to 1.5 GW of power generation capacity in a first phase growing to 3 GW in a second phase, and, on the other hand, will also develop 1 GWac of solar electricity generation capacity to supply the Basra regional grid.These agreements include: The construction of a new gas gathering network and treatment units to supply the local power stations, with TotalEnergies also bringing its expertise to optimize the oil and gas production of the Ratawi field, by building and operating new capacities.The construction of a large-scale seawater treatment unit to increase water injection capacities in southern Iraq fields without increasing water withdrawals as the country is currently facing a water-stress situation. This water injection is required to maintain pressure in several fields and as such will help optimizing the production of the natural resources in the Basra region.The construction and operation of a photovoltaic power plant with a capacity of 1 GWp to supply electricity to the grid in the Basra region. These projects represent a total investment of approximately USD 10 billion (100% share).In Iraq, TotalEnergies started its activities in the 1920s with the discovery of Kirkuk field. In the 1970s, TotalEnergies brought the Buzurgan and Abu Ghirab fields on stream. The company currently has a 22.5% interest in the Halfaya oil field producing approximately 20,000 barrels per day (TotalEnergies’ share) in 2020.
TotalEnergies, the Iraqi Ministries for oil and electricity and the country's National Investment Commission have signed, in the presence of the Prime Minister of Iraq, major agreements covering several projects in the Basra region, designed to enhance the development of Iraq's natural resources to improve the country’s electricity supply. Iraq, a country rich in natural resources, is indeed experiencing electricity shortages while it faces a sharp increase in demand from the population. TotalEnergies, with the support of the Iraqi authorities, on the one hand will invest in installations to recover gas that is being flared on three oil fields and as such supply gas to 1.5 GW of power generation capacity in a first phase growing to 3 GW in a second phase, and, on the other hand, will also develop 1 GWac of solar electricity generation capacity to supply the Basra regional grid.These agreements include: The construction of a new gas gathering network and treatment units to supply the local power stations, with TotalEnergies also bringing its expertise to optimize the oil and gas production of the Ratawi field, by building and operating new capacities.The construction of a large-scale seawater treatment unit to increase water injection capacities in southern Iraq fields without increasing water withdrawals as the country is currently facing a water-stress situation. This water injection is required to maintain pressure in several fields and as such will help optimizing the production of the natural resources in the Basra region.The construction and operation of a photovoltaic power plant with a capacity of 1 GWp to supply electricity to the grid in the Basra region. These projects represent a total investment of approximately USD 10 billion (100% share).In Iraq, TotalEnergies started its activities in the 1920s with the discovery of Kirkuk field. In the 1970s, TotalEnergies brought the Buzurgan and Abu Ghirab fields on stream. The company currently has a 22.5% interest in the Halfaya oil field producing approximately 20,000 barrels per day (TotalEnergies’ share) in 2020.
