Iraq's cabinet approved Basra Oil Company signing "a heads of agreement", or preliminary agreement, and a non-disclosure agreement with a consortium including U.S. companies Capital TI and Chevron and Qatar's UCC to study strategic oil export pipeline projects, according to a cabinet statement. The consortium will prepare technical and financial feasibility studies comparing proposed routes including Basra-Haditha-Kirkuk-Ceyhan and Basra-Haditha-Baniyas. The cabinet said the agreements would not create any final financial or contractual obligations for the Iraqi oil ministry. It also authorized Basra Oil Company to sign a consultancy services contract with KBR for a Basra-Haditha oil pipeline project.
Iraq approves preliminary agreements to study strategic oil export pipeline projects
Iraq's cabinet has greenlit preliminary deals for strategic oil export pipeline studies. A consortium featuring US firms Capital TI and Chevron, alongside Qatar's UCC, will explore routes like Basra-Haditha-Kirkuk-Ceyhan. These initial agreements carry no financial commitment for the Iraqi oil ministry. Additionally, Basra Oil Company is authorized to engage KBR for consultancy on a Basra-Haditha pipeline project.
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