Türkiye and Iraq are set to sign a one-year agreement in the coming days to keep open the crude oil pipeline between the two countries, Energy and Natural Resources Minister Alparslan Bayraktar said on Thursday.
Their decades-old agreement, which governs exports through the Iraq-Türkiye Crude Oil Pipeline, is due to expire on July 27.
"We have brought the agreement that will cover the next 12 months to the final stage. We aim to sign it in the coming days," Bayraktar, who was in Baghdad for an official visit, said in a statement.
He added that oil flow from Iraq to Türkiye's port of Ceyhan on the eastern Mediterranean coast will continue.
The pipeline had remained offline for 2-1/2 years after an arbitration court ruled for Ankara to pay $1.5 billion over what it said were unauthorized exports by Iraq's Kurdistan Regional Government (KRG) between 2014 and 2018.
