Iraq intends to develop oil pipeline network with neighbours

Jan 30, 1997 01:00 AM

Jan 20, 1997 Iraq intends to develop its oil pipeline network with neighbouring countries in preparation for a lifting of the UN embargo imposed on the country more than six years ago. "Iraq is envisaging developing in the near future its network of pipelines across neighbouring countries to increase its capacity for crude exports and to guarantee the passage of Iraqi oil," Sami Sharif, under secretary at the oil ministry, was quoted as saying. He said development of the network is necessary because of the increase in Iraq's oil export capacity, currently 2.5 million barrels a day. Under the UN accord, Iraqi oil is exported through a joint Iraqi-Turkish pipeline which was shut down after the invasion of Kuwait, and via the port of Mina Al-Bakr in the north of the Gulf. Iraq's oil reserves, at an estimated 112 billion barrels, are the second largest in the world after Saudi Arabia's. Baghdad is currently holding talks with Russian, Indian, Malaysian and Chinese companies on oil exploration and development contracts ahead of any lifting of the embargo.

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