However, disputes between Iraqi politicians over the terms
of the deal.
Iraq's demand for a 40% share in the project is a key
sticking point while TotalEnergies wants a majority stake,
sources told Reuters.
Asked if the issue of Iraq's share in the project was
resolved, Abdel-Ghani said: "It's not the time to discuss the
shares and we will announce them when an agreement is reached."
Abdel-Ghani also said that Iraq is committed to maintaining
its 220,000 barrel per day (bpd) oil output cut in line with its
quota under the latest OPEC+ agreement.
The country is also ready to increase production if required
to do so by producer group OPEC+.
"We obliged some oil companies operating in the south to cut
production to come in line with OPEC+'s agreed rates," he added.
(Reporting by Moayed Kenany
Writing by Ahmed Rasheed and Hatem Maher
Editing by David Goodman)
(Recasts on TotalEnergies deal)
March 19 (Reuters) - Talks between French oil major
TotalEnergies and Iraq to resolve sticking points in a
long-delayed $27 billion energy deal "have reached advanced
stages", Iraqi oil minister Hayan Abdel-Ghani said on Sunday.
"We will activate the deal very soon," Abdel-Ghani said at
an energy event.
The proposed deal, which Baghdad hopes will revive foreign
investment in the country, was signed in 2021 for TotalEnergies
to build four oil, gas and renewables projects with an initial
investment of $10 billion in southern Iraq over 25 years.
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