SCOP determines the expected cost of Basra-Aqaba oil pipeline project

 
Baghdad-INA
 
The State Company for Oil Projects (SCOP) determined on Sunday, the expected cost of Basra-Aqaba pipeline project and the daily production capacity, while revealing the project's objectives.
 
SCOP’s director, Shaker Mahmoud, said, during a press conference attended by the Iraqi News Agency (INA), that “Basra-Aqaba pipeline project has been supposed to be implemented since 1982, but the conditions that passed Iraq caused the project to be delayed," noting that it "aims to increase the export capacity of the system, in addition to supplying the northern refineries with crude oil to provide oil derivatives to citizens in the northern region.”
 
 
He added, "The last meeting of the Cabinet approved an amendment and drawing up a road map for the project," noting that "parts of Basra-Haditha and Haditha-Aqaba project were approved on the basis of government funding, which reduced the project costs."
 
 
He continued, "The Cabinet meeting stressed the need to study the technical cost," stressing that "the expected cost of the project does not exceed 8 and a half billion dollars, while the daily production capacity of Basra-Aqaba part will be two million barrels, and the second part, Haditha-Aqaba, will be one million barrels daily".
 
It’s to be mentioned that Ministry of Oil announced Sunday, that (Basra - Aqaba) oil pipeline project is not a new one as it is from the eighties of the last century, indicating that the project has not yet been approved