SULAIMANI (ESTA) — The Iraqi oil ministry said on Wednesday the cost of an oil pipeline to Jordan’s Aqaba port city should be brought under $9 billion for the project to go ahead.
Talks between Jordan and Iraq about the project have reached an “advanced stage,” it added in a statement, according to Reuters.
Iraq is planning to build a pipeline that is meant to export 1 million barrels per day (bpd) of Iraqi crude from the southern city of Basra to Jordan’s Red Sea port of Aqaba.
In recent years, Iraq had signed cooperation deals in the energy, health and education sectors with Jordan.
In July, Iraq extended an agreement to sell 10,000 bpd to Jordan for another year.