GGIP signing on July 10 marks progress on $27B project
Final paperwork expected to be signed Monday between Iraq and TotalEnergies, after which the company will begin to take over the Ratawi oil field operations.
Leadership from French oil firm Total and Iraq's Oil and Electricity Ministries sign a Heads of Agreement on March 29, 2021. (Source: Oil Ministry media office)
The Iraqi government and TotalEnergies are due to sign agreements in Baghdad on July 10 necessary for the French energy major to begin implementing the $27 billion Gas Growth Integrated Project (GGIP), one of the largest foreign investments to date in Iraq’s energy sector.
“There will be real measures taken with the signing of a joint cooperation protocol between the Iraqi government and TotalEnergies and implementation of GGIP will be formalized,” a senior Iraqi oil official told Iraq Oil Report. The official said the protocol could be signed in the presence of Iraqi Minister Mohammed Shia Al-Sudani. It was not immediately clear who would represent TotalEnergies and if CEO Patrick Pouyanné plans to travel to Baghdad.
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