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August 19 2022 4:12 AM ˚
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Iraqi gov’t approves Basra-Aqaba pipeline project agreement

oil pipeline
(Photo: Envato Elements)
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AMMAN — Minister of Energy and Mineral Resources Saleh Kharabsheh announced on Monday the Iraqi government’s approval of the pipeline project agreement aimed at transporting Iraqi crude oil from Basra to the Aqaba port, according to a local media outlet.اضافة اعلان

Kharabsheh said that his Iraqi counterpart, Ihsan Abdul-Jabbar, informed him in a phone call that "the Iraqi Cabinet approved the agreement and authorized him to complete the necessary procedures to sign the agreement."

The two ministers agreed on the need to capitalize on the outcomes of the fourth Jordanian-Egyptian-Iraqi tripartite summit, which was held in June of 2021 in Baghdad, with the participation of His Majesty King Abdullah II as well as the Iraqi Prime Minister Mustafa Al-Kazemi, and the Egyptian President Abdel Fattah El-Sisi.

The pipeline project seeks to serve the common interests of the two countries through opening a new outlet for Iraqi oil exports, whereby Jordan will be granted the right to purchase 150,000 barrels of oil per day to be refined at the Zarqa oil refinery.

The project involves building a 1,665km long pipeline to transport Iraqi crude oil with a capacity of one million barrels per day from Basra to the Aqaba port and from there to the global market.

 The cost of implementing the project is estimated at about $7–9 billion, according to the estimates of the Iraqi side of the project.

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