Iraq and France's Total Energies reached a $27 billion settlement to make investments in the gas, oil, and renewable energy sectors after the Baghdad government agreed to reduce its stake in the contract to about 30 percent.
The initial agreement dates back to 2021 worth $ 10 billion, but a dispute over Iraq's share in the project delayed the signing of the final contract throughout the last period before Iraq agreed to reduce its share from 50 percent to 30 percent.
Under this, the value of the contract rose to $ 27 billion due to an increase in oil and gas blocks, as the contract is the largest in the Middle East.
Source (Asharq Al-Awsat Newspaper, Edited)
