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Oil: the export of one million barrels without costs

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Oil: the export of one million barrels without costs



11/18/15

BAGHDAD / long-Presse

The Ministry of Oil, on Tuesday, that pipeline export via Jordan and Egypt believes a new market of Iraq, North Africa, indicating that it will be 490 km long and the initial capacity of one million barrels per day, and is implemented through investment and "Iraq will not cost" any sums of money, while Ministry of Energy and Mineral Resources of Jordan revealed that the Iraqi government approved an additional path for the implementation of the project is situated near the Saudi border, and reduced line distance carrier, which reduces the cost, usually it constitutes one of the objectives of the joint Arab action.
A spokesman for the Oil Ministry, Assem Jihad, said in an interview to the (long-Presse), "The 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 fields of oil and gas through the pipeline for export of Iraqi territories to the Jordanian port of Aqaba ", noting that" the project is a new outlet for Iraq contribute to raising export capacity, and securing new markets has in North Africa through Egypt.
"Jihad said that" the work on the project will begin mid-next year 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 Jordan's needs. "
he explained a spokesman for the Ministry of Oil, "The project will be implemented through investment. Iraq will not pay any amount in this regard." , pointing out that "companies and banks global several will finance the project, to be deducted amounts 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 aligns Saudi border, the project provided the new features most notably the reduction of the line distance carrier of crude oil, which reduces the project which is a joint Arab action goals and in the interest of siblings cost.
"The Jordanian monarch, King Abdullah II, confirmed on Sunday (the 15th of November 2015 current), 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 agreement to build the pipeline with a length of 1700 km and 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 km south of the Jordanian capital of Amman).

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