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Work on Iraq, Jordan oil pipeline may start soon

: Monday, February 24 - 2014 @ 01:44

Jordan’s Aqaba Special Economic Zone Authority (ASEZA) has said work to build an $18bn oil pipeline from Iraq’s Basra to the kingdom’s port city of Aqaba may start soon, as officials from both countries are meeting with international firms interested in the mega-project, Jordan Times has reported. Once completed, the pipeline is projected to export 2.25 million barrels of oil per day through the kingdom and would generate $2bn-$3bn a year in revenues for the country, according to estimates of Iraqi and Jordanian officials. The double pipeline may also include extending a sub-pipeline to Jordan’s sole refinery in Zarqa.

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Monday, February 24- 2014 @ 1:44 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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