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Oil: export pipeline through Jordan and Egypt believes a new market of Iraq, North Africa

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Oil: export pipeline through Jordan and Egypt believes a new market of Iraq, North Africa



11/17/15



BAGHDAD / Sky Press: Oil Ministry confirmed Tuesday that the oil export pipeline planned trans Jordan and Egypt will provide a new market of Iraq north of Africa, indicating that it will be a length of 490 km and energy guardian of one million barrels per day.
A spokesman for the Oil Ministry, Assem Jihad, in a press statement, said that "Oil Minister Adel Abdul-Mahdi, signed a memorandum of understanding with the Egyptian and Jordanian counterparts in Oman, to strengthen the mutual cooperation between the three countries in the field of oil and gas through the pipeline for export of Iraqi territory to Port Jordan's Aqaba ", noting that" the project is a new outlet for Iraq contribute to raising export capacity, and securing new markets for him in North Africa through Egypt. "
"The work on the project will begin mid-year next 2016 that ends after three or four years," adding that "the line will be 490 km long, with an initial capacity of one million barrels per day, of which 150 thousand to meet the needs of Jordan."
He explained a spokesman for the Ministry of Oil, "The project will be implemented by investing Iraq will not pay any amounts in this regard," pointing out that "several global companies and banks will finance the project, that the amounts deducted after the operation."
In turn, the Jordanian Minister of Energy and Mineral Resources, Ibrahim Saif, in a press statement followed up (range Press), "The Iraqi government approved an additional path for the implementation of the project is situated near the Saudi border, the project provided the new features most notably the reduction of the line distance carrier of crude oil, which reduces project cost It is one of the objectives of the joint Arab action and in the interest of our brothers. "
The Jordanian monarch, King Abdullah II, confirmed, on Sunday, (the 15th of November the current 2015), that his country looks forward to the completion of the Iraqi crude oil pipeline, from the ports of Basra, to the ports of export in the port of Aqaba, on the Red Sea coast.
Jordan and Iraq signed in (the ninth of April 2013), the framework to extend the pipeline with a length of 1700 km and the agreement is estimated to cost about $ 18 billion and with a capacity of one million barrels per day.
The pipeline will carry crude oil from the giant Rumaila field in Basra (545 km south of Baghdad), to export terminals in the port of Aqaba (325 kilometers south of Amman, Jordan).

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