Baghdad: Oil Ministry said on Sunday that it is continuing procedures to begin work on the Basra-Haditha-Kirkuk-Ceyhan pipeline project, adding that the agreement signed with Turkey aims to facilitate exports of 750,000 barrels per day, with capacity to be increased in the future.

According to Iraqi News Agency, Oil Ministry spokesman Salim Al-Rikabi mentioned that there is no fixed daily volume or rate for Iraq's crude oil exports due to fluctuations in tanker traffic and shipping operations. He noted that exports might reach 1 million barrels on one day and 2 million barrels on another, or fall below those levels, depending on the movement of oil tankers.

Al-Rikabi stated that the ministry's plans to develop Iraq's export infrastructure are currently focused on diversifying export routes. This includes studying the construction of the Basra-Haditha-Kirkuk-Ceyhan pipeline as a new export corridor, alongside a branch line from Haditha to Syria's Baniyas port, with the possibility of establishing another branch to Jordan's Aqaba port.

He further elaborated that fluctuations in global markets have impacted Iraq's oil revenues, with a more significant effect being the decline in daily export volumes due to ongoing regional conflicts. Additionally, Iraq, the United States, and Syria are coordinating on oil sector cooperation, with a notable development being the recent signing of an agreement in the United States related to the Haditha-Baniyas pipeline project.

Regarding the agreement with Turkey, Al-Rikabi confirmed that Iraq had signed a one-year interim agreement with the Turkish side to ensure the continued export of Iraqi crude oil through the Ceyhan terminal. He explained that this agreement will remain temporary until a draft long-term agreement is reached with Turkey, expected to encompass projects in the energy sector.

Al-Rikabi indicated that the maximum initial export capacity reserved through the pipeline is around 750,000 barrels per day. Any increase will depend on improvements in the security situation, the restoration of oil production in the Kurdistan Region to full capacity, and the completion of logistical works needed to transport larger volumes of southern crude to the north. He added that the ministry is simultaneously continuing procedures to begin work on the Basra-Haditha-Kirkuk-Ceyhan pipeline project, aiming to increase Iraqi oil exports through Turkish territory.