A 1,700 km pipeline will have to be constructed from Iraq’s southern port of Basra, through the territory of Najaf, through massive desert regions of embattled Anbar Province, into Jordan, and down again to the southern port of Aqaba.
ERBIL (Kurdistan 24) – Iraq has completed preparations to apply a new oil pipeline project to export Iraqi crude through the Jordanian port of Aqaba on the Red Sea, according to comments made on Friday through Iraqi Oil Minister Thamir Al-Ghadhban and Jordan’s Minister of Energy and Mineral Resources Hala Zawati.
“The export capacity of the Basra-Aqaba pipeline, which runs via Jordan, is expected to access one million barrels per day,” said Ghadhban in a statement.
The system so far, he continued, including the pipeline’s “track, components, absorptive capacity, the mechanisms of linking it to the northern Kirkuk oil fields, funding sources, and execution and operational means.”
Iraq and Jordan signed a 2013 pipeline deal worth about $18 billion and revealed that various financing options would be considered. The port of Aqaba, on the northern tip of the Red Sea, has long been a path for Iraqi imports and exports, while Oman has long depended on Iraqi oil.
A 1,700 km pipeline will have to be constructed from Iraq’s southern port of Basra, through the region of Najaf, through massive desert regions of embattled Anbar region, into Jordan, and down again to the southern port of Aqaba.
Jordanian media quoted Zawati as saying that the project is expected the approval of the Iraqi Council of Ministers, to be followed by the signing of a deal between Jordan and Iraq, and then execution of the pipeline project would begin.
She visited Iraq this year for a meeting with Iraqi officials after King Abdullah visited Iraq for the first time since 2008. Afterward, she said that the two neighbors had agreed during the ministerial meeting caught in Baghdad to “move forward with the project that serves the interests of the two brotherly peoples by inauguration a new port for Iraq’s oil exports and giving Jordan the right to buy 150,000 BPD.”
The cost of building the pipeline is estimated to be almost $5 billion and will reportedly be financed through a construction, ownership, and operation contract.