French energy giant TotalEnergies plans to invest $27 billion in Iraq in a 25-year deal
French energy giant TotalEnergies SE plans to invest $27 billion in Iraq in a 25-year deal, according to people familiar with the matter, boosting its position in the country at a time when other Western companies have been rethinking their exposure.
The deal includes investments in various energy projects, including injecting seawater into oil fields to increase the amount of oil recovered, a natural-gas processing plant and a solar farm, the people said. Total has pledged an initial investment of $10 billion, one of the people said.
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