The French group TotalEnergies today welcomed “his (return) from the big door” to Iraq with an investment the amount of which he announced would be about 10 billion dollars.
The same contract was valued at $ 27 billion by the Iraqi government on Sunday, a difference that can be explained by taking into account operating costs.
The group’s president and CEO, Patrick Pouyane, was in Baghdad on Sunday to initial a 25-year agreement with the government.
Iraqi Oil Minister Ihsan Ismail had spoken of a total value of “$ 27 billion,” of which $ 10 billion was invested in infrastructure.
“When the ministry says 27 billion, it is ‘Capex’ (s.s .: capital expenditure) plus ‘Opex’ (operating expenditure)”, Patrick Pouyane clarified yesterday during a press conference.
“And Opex is the cost and we have the revenue to fund these costs,” he added.
Today, TotalEnergies confirmed in a statement that its plans in Iraq represent a total investment of about $ 10 billion “(approximately € 8.4 billion), without mentioning other amounts.
“These agreements mark our return through the big door to Iraq, the country where our Company was born in 1924,” Pouyane said in a statement.