QatarEnergy is reportedly in talks to buy a stake from French multi-energy company TotalEnergies’ $27 billion cluster of energy projects in Iraq, Reuters reported, citing sources.
“QatarEnergy is looking to acquire a stake of around 30% in the project, one source said,” Reuters noted.
An investment from Qatar is expected to contribute an important victory for Iraqi Prime Minister Mohammed al-Sudani, who took office last year after a long period of political turmoil.
French major TotalEnergies has been operating in Iraq since the late 1920s. The company currently has a 22.5% interest in the Halfaya oil field.
The company also signed major multi-energy agreements in Iraq covering the construction of a new gas network and treatment units, the construction of a large-scale seawater treatment unit, and the construction of a 1 GW photovoltaic power plant, according to its website.
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