Total and Iraq face difficult sticking points in details of massive energy deal
The two sides still need to overcome the same sticking points that have derailed Iraq's previous attempts at multi-faceted Basra mega-deals.
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)
BASRA - After signing a Heads of Agreement with Total, Iraq is entering a difficult phase of negotiation over the contracts that would govern the multi-billion-dollar, multi-faceted energy investment.
In a statement at the end of March, the Oil Ministry confirmed it had reached a provisional framework agreement with the French company for a suite of projects, including the Ratawi gas hub, upstream development of the Ratawi field, infrastructure to supply water to several Basra oil fields, and a solar power plant.
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