BAGHDAD, June 16, 2023 – Qatar and Iraq have signed several energy deals during Qatar’s Emir Sheikh Tamim bin Hamad al-Thani visit to Baghdad, Reuters reported on Thursday.
During the visit, Qatar’s emir announced the country’s intentions to invest USD 5 million in various sectors in Iraq.
The MoUs include partnering on oil production, supplying LNG to Iraq, establishing a joint oil company and building an oil refinery.
Exact details or cost of the projects were not disclosed.
NOC QatarEnergy joined with French energy giant TotalEnergies on developing Iraq’s USD 27-billion Gas Growth Integrated Project that aims to maximise gas recovery in the Basra region in April 2023.
The project consists of four components: a gas treatment facility with a capacity of 17 mcm (600-mcf) per day linking the Ratawi, Majnoon and West Qurna 2 fields; construction of a seawater treatment facility with a capacity of 5 million barrels of water per day; development of the Ratawi field that is expected to produce 210,000 bopd; and development of a 1-GW solar power facility.
TotalEnergies operates the project with a 45% stake, with QatarEnergy holding a 25% stake and local energy player Basra Oil Company holding the remaining 30% stake.