Iraq signs contract for third offshore oil export pipeline
Iraq's Ministry of Oil announced on Sunday that state-owned Basra Oil Company has signed a contract with Italy's MICOPERI and Turkey's ESTA to construct the country's third offshore crude export pipeline.
The new pipeline, which will have a design capacity of 2.4 million barrels per day (bpd), is aimed at enhancing the flexibility and stability of Iraq's oil exports through its southern ports, local media report citing official statement.
The infrastructure will support export operations through Basra Oil Terminal, Khor Al-Amaya Oil Terminal, and a floating Single Point Mooring (SPM) platform.
The project scope includes the installation of a 48-inch offshore pipeline extending 61 kilometres at sea and 9 kilometres on land. It also involves the construction of two offshore platforms—one each at Basra Oil Terminal and Khor Al-Amaya—and the deployment of a floating SPM platform.
The project cost and completion timelines weren't disclosed.
(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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