Iraq Seeks Pipeline Investors

At a roadshow in London today, Iraq sought investors for two new oil pipelines:

  • A 2.25-million bpd line from Basra to the pumping station at Haditha, to be built on an EPC (engineer, procure and construct) contract; and,
  • A 750,000- to 1-million bpd line from Haditha to the port of Aqaba in Jordan, on a 20-year BOOT (build, own, operate, transfer) contract .

Bloomberg quotes Deputy Oil Minister Ahmad Shamaa [Ahmed al-Shamma] (pictured) as saying that timing of the construction depends on the response from investors, and that the government hopes to complete financial backing for the project by the end of next year.

There are also plans for a second export pipeline through Syria with a capacity of 1 million barrels once unrest in the neighboring country ends.

(Sources: Ministry of Oil, Bloomberg)

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