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France's Total signs a huge agreement with the Iraqi government in the field of energy

France’s Total signs a huge agreement with the Iraqi government in the field of energy

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An Iraqi family eats by candlelight due to frequent power cuts

French oil company Total signed an agreement with the Iraqi government in Baghdad, on Sunday, to build four giant energy projects in the south of the country, at a cost of $27 billion.

The Iraqi Oil Minister, Ihsan Abdul-Jabbar, stated that the French company will invest ten billion dollars in infrastructure, followed by a second payment of 17 billion dollars.

But Total said Monday in a statement that the value of its investment projects in Iraq amounted to about ten billion dollars, without mentioning other amounts. Refusing to comment on the topic.

The group’s CEO, Patrick Boyani, was in Baghdad on Sunday to sign the initials of the agreement with the Iraqi government, which is supposed to last 25 years.