Iraq’s oil minister, Ihsan Abdul Jabbar, announced that his country is holding discussions for a “giant” agreement with the French oil conglomerate Total — $7b to be exact. The contract is expected to be finalized by July, and, once signed, Total will build infrastructure to develop oil fields and produce gas.
For you oil & gas nerds out there: the objective would be to target the low-carbon industry and capture all flaring gas. The first stage of the project is estimated to produce 1GW of solar energy. Currently, Iraq’s current gas output stands at 1.5b scf/d but is expected to reach 4b scf/d by 2025.