Azerbaijan, Baku – Iraq and Jordan, the countries have finally agreed upon the construction of a new pipeline which will help the supply of light and heavy amount of crude oil and gas from Iraq to Jordan. This information was revealed by Asym Jihad, the representative of the Oil Ministry of Iraq on Friday.
A memorandum of cooperation has been signed in this regard. According to the agreement, the oil supply for Iraq to Jordan will increase from 10,000 bpd to 15,000 bpd.
Jihad has further added that the supply of crude oil through this new pipeline to Jordan will depend on the free volumes of Iraq and the requirements of Jordan.
Moreover, according to this agreement, both the countries will start working on the implementation of the project to construct a gas pipeline too for transporting gas from Iraq to Jordan.
Both the parties have agreed upon conducting a join expedition on hydrocarbon fields. According to the estimation does in 2011 the oil reserve of Iraq amounts about 143,1 billion barrels.
This is the third country in the list after Saudi Arabia and Iran according to OPEC. According to another report by BP, Iraq had produced about 2.798 million barrels of oil per day in late 2011.
The main oil fields of Iraq are in the South and they are named Rumaila, Nahr, Majnun, Zubair, Umr and West Qurna. 80% of the total oil production of Iraq is exported.