Iraq, TotalEnergies sign massive oil, gas, renewables deal

Iraq and French oil major TotalEnergies on Monday signed a long-delayed $27 billion energy deal that aims to increase oil production and boost the country's capacity to produce energy with four oil, gas and renewables projects.

TotalEnergies took a 45% stake and QatarEnergy holds the remaining 25%.

"This is the starting day, and we'll deliver the projects in the next four years for the benefit of everybody in Iraq," he said. The logo of French oil and gas company TotalEnergies is seen on an oil tank at TotalEnergies fuel depot in Mardyck near Dunkirk, France, January 16, 2023. REUTERS/Benoit Tessier/File Photo

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