Iraq has approved TotalEnergies SE to build and develop a Ratawi field, thus boosting the country’s oil economy
Iraqi Oil Ministry signed an initial agreement with the French oil and gas company in March and was waiting on the cabinet’s approval before proceeding.
Citing a government spokesperson, the Iraqi News Agency stated that the energy major is expected to process 600 million scf a day of gas from the Ratawi field.
In addition, the company aim to build a 1,000MW solar power plant and commence work on a seawater-injection project, This project aims to boost oil output from the country’s southern fields.
The project is in line with Iraq’s ambitious plan to ramp up gas production and reduce reliance on imports from Iran. Additionally, Iraq is also trying to boost its oil-production capacity beyond the current level of around 4.5 mmbbl a day, stated the source.
