Iraq Approves Preliminary Deal to Study Strategic Oil Export Pipeline Project

Iraq’s cabinet approved preliminary and confidentiality agreements for Basra Oil Company to work with a consortium to study a strategic oil export pipeline project. According to Jin10, the cabinet said the consortium includes U.S. companies Capital TI and Chevron, and Qatar’s UCC Energy. The consortium will prepare a technical and financial feasibility study and compare proposed pipeline routes, including the “Basra–Haditha–Kirkuk–Ceyhan” route and the “Basra–Haditha–Baniyas” route. The cabinet said the agreements will not place any final financial or contractual obligations on Iraq’s Ministry of Oil. The cabinet also authorized Basra Oil Company to sign a consulting services contract with KBR for the “Basra–Haditha” oil pipeline project.