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Iraq announces postponement of Basra-Aqaba pipeline

5. Jordan-Iraq Pipeline (Shutterstock)
(Photo: Shutterstock)

AMMAN — Iraq has officially announced on Sunday the postponement of the Basra-Aqaba oil pipeline deciding to refer the matter to the next Iraqi government, Al-Rai daliy reported.اضافة اعلان

The announcement came during a press conference held by the Iraqi ministry of oil to clarify a number of facts about the details of  and controversies surrounding the project.

The ministry stated that the project remains under technical review and that no contracts were signed with any entity.

The ministry explained that the cost of the project is expected to around $8.5 billion and that there are no refining facilities or petrochemical installations in Jordan that Iraq is financing currently.

The ministry also pointed out that what has been approved by the Iraqi prime ministry is a strategy and a roadmap for the implementation of the project.

Total capacity of the pipeline network inside and outside Iraq is expected to reach 3 million barrels per day with a minimum pumping output of 200,000 barrels per day. The 1,665km-long Basra-Aqaba pipeline will have a daily capacity of one million barrels.

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