Asset Report
Gas Growth Integrated Project (GGIP)
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Gas Growth Integrated Project (GGIP) is a US$27 billion integrated energy development initiative signed in September 2021 between TotalEnergies (TTE), Iraq’s Ministry of Oil (MoO) and Ministry of Electricity. According to the MoO, it represents the largest investment ever made by an international oil and gas company (IOC) in Iraq. The first phase of the project involves approximately US$10 billion of investment over four years. Project implementation was delayed by prolonged negotiations regarding the Iraqi government’s equity participation. Initially, the government sought a 40% stake for the Basra Oil Company (BOC). The parties ultimately agreed on a revised ownership structure under which TotalEnergies holds 45%, QatarEnergy 25%, and BOC 30%. On 10 July 2023, TotalEnergies and the Ministry of Oil signed the final agreements required to commence the project. TotalEnergies subsequently assumed operatorship of the Ratawi oil field in September 2023.
Table of contents
- Summary
- The Middle East Conflict
-
Key Issues
- Issues common to Federal Iraq's gas developments
- Issues common to Federal Iraq's oil developments
- Issues specific to GGIP
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Oil
- Historical
- Current
- Gas
- Natural gas liquids (NGLs)
- GGIP Sub-Commercial
- Emissions
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Ratawi Oil Field
- AGUP1
- AGUP2
- Central Processing Facilities
- CPF1
- CPF2
- Pipelines
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Ratawi Gas Hub
- Phase 1
- Phase 2
- Pipelines
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Common Seawater Supply Project (CSSP)
- Seawater desalination plant
- Seawater transmission pipelines
- Financing
- Solar Power Project
- 7 more item(s)...
Tables and charts
This report includes the following images and tables:
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Chart: ProductionTable: Operating CostsGGIP Base Case Cash Flow
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Cash flow PV (US$ million)Summary Table (US$)Cumulative Net Cash Flow - UndiscountedCumulative Net Cash Flow - Discounted at 10% from 01/01/2027Remaining Revenue Distribution (Discounted at 10% from 01/01/2027)Chart: Remaining PV Price SensitivitiesTable: Indicative Technical ValuationsIndex MapDetail Map
- 9 more item(s)...
What's included
This report contains:
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