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Iraq has agreed to a smaller 30% stake in TotalEnergies’ long-delayed $27 billion project. The deal was signed in 2021 for TotalEnergies to build four oil, gas and renewables projects with an initial investment of $10 billion in southern Iraq over 25 years, but it has experienced several setbacks amid disputes between Iraqi politicians over terms. A revival of the project is considered key to Baghdad's efforts to reverse the exit of major oil companies from the country.

Iraq agrees to 30% stake in TotalEnergies $27 bln energy project

Iraq has agreed to a smaller 30% stake in TotalEnergies’ long-delayed $27 billion project. The deal was signed in 2021 for TotalEnergies to build four oil, gas and renewables projects with an initial investment of $10 billion in southern Iraq over 25 years, but it has experienced several setbacks amid disputes between Iraqi politicians over terms. A revival of the project is considered key to Baghdad’s efforts to reverse the exit of major oil companies from the country.

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