Rehabilitation of the oil pipeline between Kirkuk and Banias to start soon

Iraqi economist showed his enthusiasm for the near start of rehabilitation of the oil pipeline, which was carrying Iraqi oil to the Syrian port of Banias on the Mediterranean, calling for the importance of accelerating the completion of the project to keep striving to increase the ability of Iraq’s competitiveness and diversification of export outlets.

Dr. Majid Al-Souary Iraqi economic expert said that the resumption of pumping Iraqi oil pipeline passing through Syrian territories “will be positive results of the various interests of the two fraternal countries”, adding that the Oil Ministry will give the flexibility given the multiple export outlets, as well as the steady increase in the volume of exported oil and achieve Strengthen the resources of the national economy.

He said rehabilitation would provide also “the possibility of investment pipeline, and expansion of its pumping or even to extend the reach equivalent amounts exported via the ports of the Mediterranean”, pointing out that consistent with the orientations of Iraq’s declared a “steady increases in the production of oil for Export, consistent with the size of proven reserves, having been deprived of so long. Al-Souary noted that Iraq” intends to develop its production to four million barrels a day in 2010, increasing to six million in 2015.

“The project achieved benefit of the Syrian economy, not to the passage of Iraqi oil revenues in the occupied Syrian, but the Syrian side in an effort to invest work in the pipeline for Iraqi oil that meets the needs of the consumer Syria instead of imported oil tankers through the sea or land heavy tanks With the costs of the Syrian economy.

 ” Al-Souary said that the project is an effective means to realize the importance of the Syrian side to deal with Iraq in the economic framework and oil in particular. “And ends, an economist Majid Al-Souary reading of the draft pumping oil through Syrian ports, including” add the 200 thousand barrels-borne Daily direct and catalytic support to Iraq sought to regain its place in the world oil market, and added and future prospects for achieving the legitimate objectives in this context. ”

 
The spokesman of the Iraqi Oil Ministry, Asim Jihad, had revealed the ministry entered into an agreement with an international company (did not disclose the name or nationality) on the rehabilitation of Iraqi-Syrian pipeline connecting the refinery of Baiji (western Iraq) to the port of Banias on the Mediterranean, which came to a halt Altsainat mid work of the last century.

He added that the export capacity of the pipeline “of about 200 thousand barrels per day, adding that the company would soon maintenance work for the operation of the pipeline as soon as possible.