Baghdad: Oil Minister Basim Mohammed Khudair al-Abadi emphasized on Saturday the strategic and economic importance of the strategic export pipeline project (Basra-Haditha-Fishkhabur) and (Haditha-Banias) for Iraq’s future. He also stressed the need to expedite procedures to reach the contract signing stage as soon as possible.

According to Iraqi News Agency, the ministry said in a statement that “Oil Minister Basim Mohammed Khudair al-Abadi chaired an important expanded meeting attended by the Undersecretary for Extraction Affairs, Nasir Aziz, the Director General of the Basra Oil Company, the Director General of the North Oil Company, and other senior ministry officials.”

The statement added that “the meeting discussed the practical steps for the strategic export pipeline project (Basra-Haditha-Fishkhabur) and (Haditha-Banias), which is considered one of the major vital projects aimed at diversifying Iraq’s oil export outlets, with a massive export capacity estimated at 2.25 million barrels per day.”

The ministry explained that “the meeting reviewed the implementation mechanisms for this major strategic project, undertaken by a consortium of reputable international companies: the American companies Chevron and Ti Capital, and the Qatari company UCC.”

The ministry added that “at the conclusion of the meeting, the Minister directed that procedures be expedited and technical and commercial discussions intensified to reach the contract signing stage as soon as possible,” emphasizing “the strategic and economic importance of this promising project for the future of Iraq and the development of its energy sector infrastructure.”