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Iraq is the first Arab country in developing oil pipelines
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Economy News _ Baghdad
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Added 06/18/2024 - 10:28 AM
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Economy News _ Baghdad
Iraq ranked first as the most developed Arab country for oil pipelines, according to data issued by the specialized Global Energy Monitor platform, until May 2024.
The Arabian Gulf is among the most important regions witnessing oil pipeline construction projects globally, in light of the leadership role it plays in the global market and its possession of huge crude reserves.
Iraq topped the list of the most developed Arab countries for oil pipelines, and the oil pipeline projects - proposed and under construction - reach 3.83 thousand kilometers, divided between 75 kilometers under construction and 3.756 thousand kilometers proposed.
The marine export pipeline project, with an investment cost of $416.9 million, is scheduled to be implemented during the years 2024 and 2025, and will be implemented by the Dutch company Royal Boskalis.
This comes as the country implements plans to increase its oil production to 8 million barrels per day by 2027, contributing to Iraq topping the list of the most developed Arab countries for oil pipelines.
It is noteworthy that Iraq has about 15 lines for transporting oil, with a length of 2.09 thousand miles, and 10 lines with a length of 1.53 thousand miles for transporting petroleum derivatives, according to data issued by the Organization of Arab Petroleum Exporting Countries (OAPEC).
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Added 06/18/2024 - 10:28 AM
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