BASRA, Iraq, July 19 (Reuters) - Iraq secured its $27 billion oil deal with France's TotalEnergies (TTEF.PA) last week by offering quicker, less risky payback through greater revenue-sharing, a model it could replicate in the future to lure investors.
The new deal is designed to allow Total to take a portion of revenues from the Ratawi oil field in Iraq's oil-rich Basra region and use them to help finance three other projects, two senior Iraqi oil officials said.
In the end, Total took a 45% share while the state-owned Basra Oil Company took 30% and QatarEnergy 25%.
Revenues will be split according to those stakes, one of Iraq's senior oil officials said.
Iraq's oil officials said the model could be replicated in the future but that would be considered on a project-by-project basis.
Persons:
France's, Aref Mohammed, Silvia Aloisi, Timour Azhari, Elaine Hardcastle
Organizations:
Exxon Mobil, Shell, BP, Total, Reuters, Basra Oil Company, Thomson
Locations:
BASRA, Iraq, U.S, Basra, Ratawi, Saudi, Iraqi, Timour Azhari, Baghdad, Paris