Project Qatar 2017
 
Saturday, December 3, 2016
Directory Directory Subscribe
Login
 

Iraq, Jordan and Egypt revive the $12 billion Basra-Aqaba oil pipeline project

 
 

Please, enter data

Please, enter data

Agencies, 23 March 2016

The Iraqi Oil Minister Adel Abdel Mahdi and Jordan’s Minister of Energy and Mineral Resources, Ibrahim Saif visited Egypt and headed delegations to the Tripartite Meeting of the oil Ministers of Iraq, Egypt and Jordan to complete the discussions about the oil and gas transportation pipeline.

On this occasion, a memorandum of understanding was signed between Iraq and the Egyptian minister of petroleum and minerals, Farooq Al-Mullah, regarding cooperation with Egypt in oil & gas, drilling, refining, pipeline extension, infrastructure and training.

At the same time, Jordan’s Minister of Energy and Mineral Resources, Ibrahim Saif, discussed with his Egyptian and Iraqi counterparts developments regarding the Basra-Aqaba pipeline project that was agreed upon by the three countries in Amman in November 2015. It was announced that the three ministers have signed a MoU to extend the oil pipeline from Basra to Aqaba. Jordan, Egypt and Iraq have affirmed that they are stakeholders in the Basra-Aqaba oil pipeline project, while stressing the need to complete the scheme thanks to its importance to the three Arab nations, Jordanian Minister of Energy and Mineral Resources Ibrahim Saif said.

In a statement after the meeting it was declared that the Jordanian-Iraqi oil pipeline and the parallel gas pipeline, constitute an ambitious project for its role in achieving integration and enhancing energy security between the two countries after moving toward implementing the project when concluding related technical studies.

According to the MoU, Jordan is to benefit from Iraqi crude oil and liquefied gas to meet its needs of oil products and natural gas and generate electricity.

The Iraqi government had approved an additional route for implementing the project, situated near the Saudi border and provided the project with additional features, notably the reduction of the distance of the pipeline, which will carry the crude oil, therefore reducing the project costs.

In statements to Petra following his return from Cairo, Saif said that Iraq is interested in the project because it secures a new path to export oil, while Jordan is interested because the pipeline passes through its territories. Egypt, meanwhile, will benefit from the project through using its refineries to treat the crude oil, the minister added.

Saif also reiterated the importance of keeping momentum of the project.
Agencies
23 March

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Qatar emerges as Ukraine's key investment partner
The Peninsula, 1 December 2016

Qatar is considered as a very important commercial and investment partner and a potential supplier of Liquefied Natural Gas (LNG) to Ukraine, said Yevhen ...

Read full story
Qatar emerges as Ukraine's key investment partner
Private construction companies in Egypt implement projects worth EGP 39.8bn ($2.2 billion) in 2015: CAPMAS
Daily News Egypt, 1 December 2016

Construction companies in the private sector have implemented projects worth EGP 39.8bn in 2015, an increase of 27.1% compared to the previous year, according to ...

Read full story
Private construction companies in Egypt implement projects worth EGP 39.8bn ($2.2 billion) in 2015: CAPMAS
Back to Home Page 2580 --- 385 <><><> 943.....exvideo=0....eximage=0
P 0
BR 16

Project Qatar 2017

 

 
3rd Annual Future Drainage & Stormwater Networks Qatar
5 - December 2016
2nd Annual Marine Data Infrastructure GCC
30 - January 2017
3rd Annual Future Landscape & Public Realm UAE
6 - February 2017
LightingTech KSA
6 - March 2017
3rd Annual RetrofitTech UAE Summit & Awards
20 - March 2017
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Future Landscape UAE 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  3rd Annual Future Drainage & Stormwater Networks Qatar - 5 December - 6 December 2016  
  Solar & Wind Projects Jordan - 6 February - 7 February 2017  
  3rd Annual Future Landscape & Public Realm Abu Dhabi - 6 February - 7 February 2017  
  Project Egypt - 8 February - 11 February 2017  
  2nd Annual Marine Data Infrastructure GCC - 27 February - 28 February 2017  
  Food Africa Cairo - 22 April - 24 April 2017  
  Project Qatar - 8 May - 11 May 2017  
  Qatar StoneTech - 8 May - 11 May 2017  
IFP Group Events Calendar

 


Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
3rd Annual Future Drainage & Stormwater Networks Qatar
Heavy Max
Project Qatar
Qatar StoneTech
Iraq
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved