Iraq is planning to sign an accord Sunday with Turkey to extend the operation of a major oil pipeline after they agreed to renew the deal, the Iraqi Oil Ministry said in a statement Thursday.
Iraq
is
planning to sign an accord Sunday with
Turkey
to
extend the operation of a major oil pipeline after they agreed to renew the
deal, the Iraqi Oil Ministry said in a statement Thursday.
The deal is expected to be signed by
Iraq
's Oil
Minister Hussein al-Shahristani and his Turkish counterpart Taner Yildiz at the
Iraqi ministry headquarters in
Baghdad
, it
said.
The ministry gave no details of the deal.
Yildiz previously said
Turkey
wanted to extend the agreement by 15-20 years.
Officials from both countries have earlier agreed to renew the accord which
expired in March this year.
The 970-kilometer pipeline, which was commissioned beginning of 1980s, handles
about 450,000 barrels a day or a quarter of
Iraq
's
crude oil exports from its northern
Kirkuk
oil
fields to
Turkey
's
Mediterranean
port
of
Ceyhan
.
Oil flows in the pipeline are frequently halted due to technical faults and
acts of sabotage carried out by Iraqi and Turkish insurgents. The line was
almost idle between the U.S.-led invasion in 2003 and 2007.
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