Al-Zaidi Reveals Ambitious Plans to Boost Iraq's Oil Output Over Five Years

Iraqi Prime Minister Ali Faleh Al-Zaidi announced on Monday plans to boost Iraq's oil production to 10 million barrels per day within five years. His media office stated Al-Zaidi received Patrick Pouyanné, TotalEnergies CEO, and his delegation in Paris. The meeting reviewed TotalEnergies' strategic projects in Iraq, notably in the gas sector. Al-Zaidi highlighted government plans to expand associated gas investment for self-sufficiency. He also detailed increasing oil production over the next five years to achieve the 10 million bpd target. The Prime Minister confirmed expanded oil exploration is commencing across Iraq, aiming to enhance national economic growth and development. Preparations are also underway for an international energy conference in Baghdad. Pouyanné reiterated TotalEnergies' readiness to cooperate in Iraq's oil and energy. He noted the company's current $12 billion oil investments in Iraq, with plans to raise them to $16 billion.