The Jordanian government gave the green light to a pipeline project to pump oil from Basra in southern Iraq to Aqaba port in southern Jordan, state media reported Tuesday.
The Jordanian newspaper "Al Rai" reported that "the Council of Ministers decided in its meeting Monday evening to approve a preliminary agreement to be signed between the Ministry of Energy and Mineral Resources of Jordan and the Iraqi Ministry of Oil."
The project aims to " The Jordan Territory to the port of Aqaba and supply Jordan with part of its oil needs. "
She explained that the project is a" strategic project "that serves the interests of the two countries as it provides" a new export outlet for Iraqi oil and works to promote energy strategy in Jordan. " Jordan and Iraq had signed on the 9th of April 2013 agreement The pipeline is supposed to transport crude oil from the giant Rumaila field in Basra (545 km) to the Iraqi port of Aqaba, at a cost of about $ 18 billion and a capacity of one million barrels per day.
Iraq, which has the third largest oil reserves in the world, hopes that the extension of this pipeline will increase its oil exports and diversify its competitors.
Jordan, for its part, Which imports 98% of its energy needs, to ensure the pipeline needs of crude oil, which is about 100 thousand barrels Daily and get 100 million cubic feet of natural gas per day.