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2025-09-15 18:03:39
[Iraqi Oilfield Giant Emerges, Trillion-Dollar Energy Project Captures Global Attention] ⑴ French energy giant Total Energy is accelerating its $27 billion integrated energy project in Iraq, which has entered the final stages of development. According to agency news, the project aims to significantly increase Iraq's oil, natural gas, and electricity production, while reducing its dependence on energy imports from neighboring countries and attracting foreign investment. ⑵ Total Energy has launched the second phase of development of its Ratawi oil field in Iraq and begun construction of a supporting seawater treatment plant. The first phase of the project, which began in late 2023, is expected to increase crude oil production to 120,000 barrels per day by early next year. The second phase will nearly double production to 210,000 barrels per day by 2028 and completely eliminate routine natural gas flaring. ⑶ Agency data indicates that the project will be jointly led by Total Energy (45%), Iraq's National Petroleum Corporation (30%), and Qatar Energy (25%). Turkey's ENKA Construction Company and South Korea's Hyundai Engineering & Construction will be responsible for constructing oil and gas processing facilities with a daily production capacity of 210,000 barrels of oil and 163 million cubic feet of natural gas, respectively, as well as a seawater treatment plant with a daily processing capacity of 5 million barrels. (4) Notably, the use of seawater instead of freshwater for water injection will effectively alleviate Iraq's water shortages. The project also includes a 1-gigawatt (GW) solar farm and supporting facilities for collecting associated gas from the oil fields and using it for power generation. This will help Iraq reduce its reliance on imported natural gas and electricity, which currently accounts for approximately 30% to 40% of its total demand, according to the agency. (5) In a meeting on Sunday, Iraqi Prime Minister Mohammad Shia al-Sudani welcomed the increase in foreign investment, marking significant progress in Iraq's efforts to attract long-term investment, which had previously faced challenges following a round of oil field development bidding more than a decade ago.
