West Qurna-1 oilfield is operated by ExxonMobil
Iraq’s future tied to deadlocked TotalEnergies deal
The $27bn megaproject is key to Iraq’s 2027 oil and gas production goals
The fate of Iraq’s crude and gas production is tied to a stalled $27bn deal with France's TotalEnergies. Almost 18 months after the set of major energy projects was awarded to the French major and a new government was formed, the political limbo remains. The importance of the deal to Iraq’s hydrocarbons sector cannot be underestimated, with the Gas Growth Integrated Project (GGIP) forecast to account for just under 20pc of Iraq’s gas production by 2027 and a seawater injection facility being pivotal to the country’s target of raising oil output from 4.5mn bl/d currently to 7mn bl/d by 2027. c.20pc – GGIP’s projected share of Iraq’s gas production by 2027 Opec’s second-largest produce
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
