Russian Lukoil will build a 1.6 million bpd capacity oil pipeline to Iraq’s Fao terminal.
Iraqi Oil minister, Abdul Kareem L’aibi said the pipeline will start from Tuba Oil Stores to Fao terminal, adding that another pipeline will be built to boost to a total of 3.2 million bpd.
In early June, Lukoil President Vagit Alekperov and officials of the South and North Oil Companies of Iraq signed an addendum to the contract for development and production of oil in the West Qurna-2 field.
The scope of work for the West Qurna-2 project will include the Tuba-Fao pipeline construction and will provide for changes in the procedure of the project investors’ costs recovery.
“The Iraqi export system requires upgrading to accommodate growing production due to a number of licensing rounds conducted in recent years. The construction of the Tuba-Fao Pipeline will provide for a direct connection between the West Qurna-2 field and the country’s largest export terminal, creating opportunities for further production growth from the field,” said Alekperov.
Fao terminal is located on the Fao peninsula, a region adjacent to Persian Gulf in southeast of Iraq between the city of Basra in Iraq and Abadan in Iran.
