Shafaq News- Baghdad

Iraq is pressing ahead with plans to build a new pipeline system carrying crude oil through two routes, one reaching Fishkhabur on the Turkish border and another extending to Baniyas on Syria's Mediterranean coast, as part of a broader push to reduce dependence on the Strait of Hormuz following its closure since February 28.

The Oil Ministry said Deputy Minister for Extraction Affairs Nassir Aziz chaired a meeting Monday to discuss the project, which envisions two corridors: Basra–Haditha–Fishkhabur and Haditha–Baniyas. The routes would provide additional export outlets alongside Iraq's main southern terminal, enhancing the flexibility of the country's export system and opening multiple marketing options for Iraqi crude, the ministry said in a statement.

Aziz stressed the importance of accelerating implementation mechanisms and identifying technical requirements, alongside completing negotiations with an international consortium comprising UCC, TI Capital, and Chevron on investing in the project under a Build-Operate-Own-Transfer (BOOT) model.

On July 17, a memorandum of understanding signed by Iraq and Syria under US sponsorship to reactivate the Kirkuk–Baniyas pipeline, enabling Iraqi crude to reach Mediterranean ports through Syrian territory.

Read more: Preparatory studies begin on Kirkuk-Baniyas pipeline rehabilitation