Iraq Makes Bold Move For Energy Self Sufficiency With French Help

Iraq is moving ahead to ink deals in its energy segment with France. Becoming the largest investment ever by a western company, Total Energies will be investing $27billion in energy production in the Kurdistan region of Iraq. The French energy major will be harnessing energy from solar, oil, and gas resources. 

But the biggest challenge remains to implementation of the projects, according to the oil minister, Ihsan-Abdul-Jabbar Ismail.  This alliance is meant to help Iraq develop its natural resources kept dormant due to civilian unrest for over two decades now. It is going to improve the country’s electricity shortage, despite being a country rich in natural resources. 

Work will be carried out in a phased manner. With the support of the Iraqi authorities, Total Energies on the one hand will invest in installations to recover gas that is being flared on three oil fields and as such supply gas to 1,5 GW of power generation capacity in a first phase growing to 3 GW in a second phase, and, on the other hand, will also develop 1 GWac of solar electricity generation capacity to supply the Basra regional grid.

Related Posts

Towards this, three separate contracts have been signed with Iraq’s oil ministry.  A third project is to inject seawater into southern Iraq oilfields to enhance oil extraction.

The major problem in Iraq is that it has no infrastructure of its own to support its electricity needs. It has been heavily dependent on its neighbors for the related imports. Iran has been on of its strongest import partners which is now pulling its hands over supplies. 

Iran had been exporting 40 to 45 million cubic meters of gas daily to its neighbor, which receives sanctions waiver from the United States allowing the trade. Total Energies has old history with Iraq, of having worked with them since 1920s. 

These developments come with a change of guard. Since May 2020, the new government under the leadership of Mustafa Al-Kadhimi, the country is inching towards self-sufficiency.  The formation of a new government has finally ended months of political deadlock.

But fiscal pressures, political rivalries, and limited institutional capacity still present serious hurdles to reforms.  These include strengthening of governance and tackling corruption—that remain critical to long-term stability in Iraq and regionally, according to political analysts. 

Desk Writer

Human stories, politics, diplomatic developments, climate and daily updates – all are assured to be at your access as we strive to bring the best news to you.

Recent Posts

Power Cut to 70,000 Customers in Southern California Due to Wildfire Risk

Southern California Edison the main electric provider in the region intentionally cut power to nearly 70,000 customers overnight as a… Read More

November 7, 2024

Middle East Crisis: Escalating Conflict Claims 40 Lives in Lebanon as Israel Intensifies Strikes

As confirmed by the health ministry of Lebanon Israeli airstrikes have intensified across Lebanon. According to the ministry, at least… Read More

November 7, 2024

UAE, Australia Launch Historic Trade Partnership Talks

According to WAM, it is the first time that the United Arab Emirates and Australia have claimed that they have… Read More

November 7, 2024

EB-5 Visa Program Remains Stable Despite Trump’s Return to White House

Americans are already giving some other reforms into the U.S. immigration policies following the return of Trump into the presidency… Read More

November 7, 2024

Gallant Night 3, UAE’s commitment to the health, relief, and well-being of Palestinians in need

Again, the gulf nation UAE is in news for its humanitarian efforts. According to the official news source WAM, the… Read More

November 7, 2024

Modi, MBS, Netanyahu, and More- Congratulate Trump on Winning 47th U.S. Presidency

After the victory of Donald Trump in the U.S. presidential election congratulations began pouring in from leaders around the world.… Read More

November 6, 2024

This website uses cookies.

Read More