TotalEnergies' $27 billion four-part megadeal in Iraq is racing toward completion, with key elements ranging from 80% to 95% finished. The French energy giant's Common Seawater Supply Project (CSSP) and associated infrastructure are on track to dramatically boost Iraq's oil production capacity, according to reports from Baghdad's Oil Ministry.

The CSSP, which will supply seawater for pressure maintenance in southern oil fields, has overcome years of delays caused by disputes between ExxonMobil and CNPC. Progress now ranges from 80% on the Central Processing Facility rehabilitation to 95% on the Artawi-PS1 export pipeline. A senior ministry source told OilPrice.com that TotalEnergies is "doing exactly what it said it would, ahead of time in several respects."

If completed as planned, Iraq could potentially reach 13 million barrels per day of production capacity, positioning it among the world's top three oil producers. The project also includes capturing associated gas currently flared at southern fields, which would reduce Iraq's dependence on Iranian gas imports and revive the stalled $11 billion Nebras petrochemicals project. This development marks a significant shift in Iraq's energy sector after more than a decade of stalled infrastructure investments.