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Iraq and TotalEnergies expect to begin work on a long-delayed $27 billion project within the next two weeks. Five side agreements related to the deal are to be signed in the next two weeks, paving the way for implementation to commence. The initial agreement 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 political infighting has delayed the process. Iraq eventually agreed to a smaller 30% stake. 

TotalEnergies’ $27 billion Iraq project to begin in two weeks

Iraq and TotalEnergies expect to begin work on a long-delayed $27 billion project within the next two weeks. Five side agreements related to the deal are to be signed in the next two weeks, paving the way for implementation to commence. The initial agreement 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 political infighting has delayed the process. Iraq eventually agreed to a smaller 30% stake. 

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