Washington: Iraq and Syria have signed a memorandum of understanding to rehabilitate the oil pipeline extending from Haditha to Banias, with Chevron set to implement the project. This development was reported by the Iraqi News Agency (INA) correspondent in Washington.

According to Iraqi News Agency, the memorandum is part of a broader initiative where Iraq plans to sign 50 agreements and memoranda of understanding with the American side, amounting to a total of $60 billion. The memorandum specifically concerning the Haditha-Banias pipeline is a significant step in enhancing regional cooperation and infrastructure development.

The United States has expressed its support for the agreement. A statement from the US Embassy in Baghdad, received by the Iraqi News Agency, welcomed the signing of this historic memorandum between Iraq and Syria. The statement highlighted that the rehabilitation and reconstruction of the Iraq-Syria crude oil pipeline is crucial for enhancing security and stability, as it promotes regional connectivity and prosperity. Additionally, American companies are expected to play a significant role in the construction work related to this vital infrastructure project.