LUKoil to Build 1.6 million barrel/day Oil Pipeline to Faw Port

The Iraqi Oil Ministry announced that the Russian oil company LUKoil will build an oil pipe with 1.6 million barrels per day capacity.

 The oil minister Abdulkareem Loaibi said in a press conference held today “that LUKoil will build a main oil pipeline with 1.6 million barrels per day capacity reaching to Faw port in Basra south of Iraq”.

Indicating, “That the pipeline will run from Tuba oil tank farm to Faw port, and another pipeline will be built soon which raises the transfer capacity to 3.2 million barrels per day”.

In 2012 and in the 4th licensing round Russia's LUKoil and Japan’s INPEX Cooperation as a consortium signed an agreement to develop the 10th exploration area which contains West Qurna oilfields”.

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