Kirkuk-Baniyas Oil Pipeline Rehabilitation

planned

Iraq and Syria signed a cooperation agreement and two memoranda of understanding in the United States to rehabilitate the long-defunct Iraq-Syria crude oil pipeline running from the oil-rich Kirkuk region in northern Iraq to Syria’s Mediterranean port of Baniyas. The project aims to restore an operational capacity of about two million barrels of crude oil per day, providing Iraq with an alternative export route bypassing the Strait of Hormuz. The rehabilitation will be executed by a US-led international consortium including Chevron, which will carry out technical and financial studies and establish operational bases.