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TotalEnergies Vows to Boost Iraq Investments to $16 Billion

Guavy AI Editorial Team
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TotalEnergies, a French oil and gas company, plans to increase its investments in Iraq's energy sectors from $12 billion to $16 billion, according to Chairman and CEO Patrick Pouyanne.

The announcement was made during a meeting between Pouyanne and Iraqi Prime Minister Ali al-Zaidi in Paris. The two leaders discussed TotalEnergies' strategic projects in Iraq, particularly in the gas sector.

Al-Zaidi highlighted the government's efforts to improve associated gas recovery and achieve self-sufficiency. He also mentioned plans to boost oil production over the next five years, aiming for Iraq to reach 10 million barrels per day.

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