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French oil major TotalEnergies and Iraq will soon finalize a long-delayed $27 billion energy deal and talks “have reached advanced stages.” The proposed 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. Baghdad hopes the deal will revive foreign investment in the country.

Iraq and TotalEnergies to finalize $27 billion deal soon

French oil major TotalEnergies and Iraq will soon finalize a long-delayed $27 billion energy deal and talks “have reached advanced stages.” The proposed 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. Baghdad hopes the deal will revive foreign investment in the country.

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