Iraq Approves Preliminary Agreements to Study Strategic Oil Export Pipeline Projects

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(Reuters) – Iraq’s cabinet approved Basra Oil Company signing “a heads of agreement”, or preliminary agreement, and a non-disclosure agreement with a consortium including U.S. companies Capital TI and Chevron and Qatar’s UCC to study strategic oil export pipeline projects, according to a cabinet statement.

The consortium will prepare technical and financial feasibility studies comparing proposed routes including Basra-Haditha-Kirkuk-Ceyhan and Basra-Haditha-Baniyas. The cabinet said the agreements would not create any final financial or contractual obligations for the Iraqi oil ministry.

It also authorized Basra Oil Company to sign a consultancy services contract with KBR for a Basra-Haditha oil pipeline project.

Reporting by Muayad Hameed and Ahmed Rasheed; Writing by Enas Alashray; Editing by Jonathan Oatis

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