Oil Export Facilities to Cost $50 Billion

Iraq’s plans to expand its oil pipelines and other export facilities will cost $50 billion, the Middle East Economic Survey reported today, without saying where it got the information.

As part of this program, the country intends to build a pipeline that would carry heavy oil from the Majnoon, East Baghdad, Qayara and Najma fields to Turkey and to rebuild an existing export network to Syria, according to MEES.

International oil companies who signed deals with Iraq are meeting with their local partners on July 18-19 in Baghdad to discuss pipeline construction and water injection, MEES said.

(Source: BusinessWeek)

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