TotalEnergies Iraq Oil Complex Completes 80-95% of $27B Megaproject Ahead of Schedule

TotalEnergies (TOT) is advancing its $27 billion four-part oil and gas complex in Iraq, with 80%–95% of key components now completed and the project ahead of schedule. Officials estimate the complex could come online as early as Q4 2026, potentially adding 150,000–200,000 barrels per day to Iraq’s production capacity. The project, built under a joint venture with local partners, is critical to TotalEnergies’ strategy to expand upstream operations in the Middle East.