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Iraq Proposes Clean Energy Investments to BP, Total

Iraq Proposes Clean Energy Investments to BP, Total

Sunday, 29 May, 2022 - 09:45
A view shows Iraq's Majnoon oil field near Basra, Iraq, March 27, 2022. (Reuters)

Iraq’s Oil Minister Ihsan Abdul Jabbar held talks in London and Paris with the chief executive officers of the British Petroleum company and France’s Total and officials from the French ministries of economy and energy.

He proposed new plans to invest in the oil, gas and clean energy sectors, a ministry statement revealed on Saturday.

Abdul Jabbar said during his meeting with CEO of BP Bernard Lonnie that Iraq boasts many plans and projects in the field of clean energy.

The minister said Iraq has concluded various agreements with Norway's Scatec, France’s Total, China’s Power China, UAE’s Masdar and Saudi Arabia’s ACWA Power to implement renewable energy projects.

Baghdad plans to produce 20% of its energy production from renewable and clean energy, Abdul Jabbar said, adding that it is working to create a good environment for investment and all the efforts are directed to implement these plans.

Commenting on his meeting with CEO of TotalEnergies Patrick Pouyanee in Paris, he stated they discussed programs, job opportunities and joint cooperation to implement projects in the fields of oil and energy.

They also agreed on the timing of implementing joint projects, such as the Gas Investment Project in a number of oil fields in southern Iraq, the Solar Energy Project, Artawi Field Development Project to increase its output, as well as the Common Seawater Supply Project to support sustained and increased production in oilfields.

Abdul Jabbar further discussed with the two French ministries his country’s potentials in gas production, especially after it completed the development of the free gas fields in the Anbar and Diyala provinces.

Talks also touched on the investment of gas associated with oil operations, and the possibility of boosting production with an eye on international energy security.

The minister said he is coordinating with producers to achieve balance and required stability in global markets.

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