Iraq approves first contracts to examine key oil export pipeline projects

The cabinet of Iraq accepted the signing of “a heads of agreement”, or preliminary agreement, and a non-disclosure agreement by the Basra Oil Company with a consortium of U.S. businesses Capital TI and Chevron and Qatar’s UCC to examine key oil export pipeline projects, a cabinet statement said.

The consortium will carry out technical and financial feasibility assessments of the planned routes Basra-Haditha-Kirkuk-Ceyhan and Basra-Haditha-Baniyas. The agreements would not place any final financial or contractual obligations on the Iraqi oil ministry, the cabinet stated.