TotalEnergies’ $27 billion project in Iraq’s oil and gas sector is 80-95% complete, with significant progress seen in key components like the Central Processing Facility and Artawi-PS1 export pipeline. The project has faced minimal government interference, promising substantial gains in oil production in a short time.

The Common Seawater Supply Project (CSSP) is a crucial part of TotalEnergies’ plan, aiming to boost Iraq’s oil potential by maintaining pressure in reservoirs with treated seawater. This project could help Iraq become one of the world’s top three oil producers, behind only the U.S., by supplying water to multiple fields and extending its reach further.

To meet future production targets, Iraq’s oil industry will require significant water injection. The CSSP’s completion timeline is uncertain, as seen with Saudi Aramco’s similar project that took nearly four years to expand. Past delays in the CSSP were caused by disputes between ExxonMobil and CNPC, with concerns over corruption and governance issues playing a role.

Despite previous setbacks, TotalEnergies’ progress on the project signals a potential for substantial oil output gains in Iraq. The Integrated National Energy Strategy outlined scenarios where Iraq’s oil production could reach 13 million bpd by 2017 in the best-case scenario, positioning the country as a key player in the global oil market. TotalEnergies’ gas deal with Iraq aims to reduce dependence on Iran by collecting and refining natural gas at southern oilfields, producing 300 million cubic feet per day. The $27 billion project targets completion by 2028, resisting corrupt Iraqi involvement. Federal court invalidated Iraqi National Oil Company’s participation due to constitutional breaches.

Iraq aims to increase oil production to 8 million bpd by 2028, compared to current 4-4.2 million bpd. TotalEnergies’ gas deal includes capturing associated gas to cut imports from Iran and revive a $11 billion petrochemicals project. French energy giant resists corrupt Iraqi involvement in the project, targeting completion by 2028.

Read more at Yahoo Finance: The Iraqi Megaproject No One Thought Would Happen Is Racing To Completion