of the Jordanian Royal Court reveals details of the meeting with the Iraqi president[/size][You must be registered and logged in to see this image.] [You must be registered and logged in to see this link.]
3 hours ago
Jordan's King Abdullah II and Iraqi President Barham Salih on Thursday discussed boosting economic cooperation, especially extending an oil pipeline from Basra to Aqaba and rehabilitating the road between the two countries.
According to a statement issued by the royal court, the king held talks with the Iraqi president in Amman, in which they agreed to "expand cooperation between Jordan and Iraq in various fields, especially economic, trade, investment, energy and transport."
The two sides stressed "the need to proceed with the implementation of a number of joint economic projects, especially the pipeline from the city of Basra to the port of Aqaba, and rehabilitation of the road between Amman and Baghdad, and the establishment of a joint industrial zone on the border between the two countries."
The pipeline is supposed to transport crude oil from the giant Rumaila field in Basra (545 km south of Baghdad) to the export terminals in Aqaba (325 km south of Amman) and supply Jordan with part of its oil needs.
For his part, Saleh said during the talks that "the implementation of the project (...) is a strategic for Iraq."
Last February, the Jordanian government approved a framework agreement on the pipeline project.
On April 9, 2013, Jordan and Iraq signed a framework agreement for a 1700 km pipeline project to transport oil at a cost of around $ 18 billion and a capacity of 1 million barrels per day.
Iraq, which has the world's third largest oil reserves, estimated at 143 billion barrels after Saudi Arabia and Iran, hopes that building the pipeline will increase its oil exports and diversify its competitors.
The kingdom, which imports 98 percent of its energy needs, hopes the pipeline will meet its crude oil needs of around 150,000 bpd and get 100 million cubic feet of natural gas a day.
The two countries are linked to a previous agreement that would supply Jordan with 10,000 barrels per day of Iraqi crude oil, which would then rise to 15,000 barrels, then 30,000 barrels and 1,000 tons of heavy fuel, but the deal was suspended as a result of deteriorating security conditions in Iraq.
Iraq was supplying Jordan with oil at preferential and free prices under Saddam Hussein.