PARIS (Agefi-Dow Jones)–A set of TotalEnergies projects in Iraq have stalled due to lack of agreement within the Iraqi executive as a new government is to be formed, Reuters reported on Monday. .
The agreements reached last September by TotalEnergies and the Iraqi Ministry of Petroleum have not received the approval of all the departments concerned on the financial terms of the contract, the agency said, citing three sources within the Iraqi Ministry of Petroleum. and the petroleum industry.
These agreements will not be validated before the entry into office of a new government scheduled for the end of March at the earliest, added Reuters.
TotalEnergies announced in September the signing, in the presence of Iraqi Prime Minister Moustapha al-Kazimi, of “large-scale agreements covering a series of projects, in the Basra region, intended to develop Iraq’s natural resources to improve the country’s electricity supply. The group had specified that it planned to invest 10 billion euros in new infrastructures for the production of oil, gas and electricity.
Contacted by the Agefi-Dow Jones agency, spokespersons for TotalEnergies could not be immediately reached for comment.
-Francois Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: ECH
Website: https://www.challenges.fr/finance-et-marche/l-accord-de-totalenergies-sur-quatre-projets-en-irak-au-point-mort_800701
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February 14, 2022 06:09 ET (11:09 GMT)