TotalEnergies will increase its investment in Iraq by $4 billion.
The expansion brings the company's total financial commitment in the country to $16 billion. Chairman and CEO Patrick Pouyanné confirmed the plans following a meeting in Paris with Iraqi Prime Minister Ali Al-Zaidi.
The strategic partnership focuses on developing Iraq's gas sector. The Iraqi government intends to utilize associated gas to reach energy self-sufficiency. These projects also aim to increase the nation's crude oil production capacity.