Monday 20 September 2010

Syria, Iraq to build pipeline

Syria and Iraq have signed an initial agreement to build two crude oil pipelines to the Mediterranean Sea, an Iraqi official said.

Iraqi government spokesman Ali al-Dabbagh said the larger pipeline with a 1.5 million barrel daily capacity would carry heaver crudes and the smaller pipeline with a 1.25 million daily capacity would carry lighter crude oil, the Global Arab Network Web site reported Sunday.

The Iraqi spokesman said a third pipeline for gas, already approved by his government, will also be constructed by the two countries in the future.

The Iraqi government has signed a series of agreements with major international oil companies to quadruple its crude oil production capacity in the next seven years, with the aim of raising Iraq's oil production to a 12 million barrel daily capacity, the report said.