QatarEnergy to hold 25% stake in Gas Growth Integrated Project in Iraq
QatarEnergy has agreed to hold a 25% share in the multi-billion-dollar Gas Growth Integrated Project (GGIP) in Iraq, it said on April 5.
The GGIP consortium will be composed of Basra Oil Company (30%), TotalEnergies (operator - 45%), and QatarEnergy (25%), subject to the finalisation of necessary contractual arrangements and obtaining customary regulatory approvals.
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Signed in September 2021, the GGIP involves investing approximately $10bn to design and construct facilities for recovering significant volumes of flared gas throughout the Basra region and supplying such recovered gas to power stations, as well as a seawater treatment and distribution system to supply water for injection into oil reservoirs for pressure maintenance purposes.