Iraq intends to increase the volume of oil exports to 1.5 million barrels per day through Turkey’s strategic Ceyhan terminal located on the Mediterranean coast.
Sea-news.az reports that this was stated by Iraqi Oil Minister Basim Mohammed Khudair.
The minister stated that the agreement currently in force between the two countries provides for the transit of up to 750,000 barrels of oil per day. However, the parties are preparing a new strategic agreement that will create conditions to double the volume of crude oil transferred to the marine terminal by the end of the year.
According to Basim Mohammed Khudair, the energy partnership between Baghdad and Ankara is not limited to sea transit via the Ceyhan port alone. The two states are continuing intensive negotiations to expand long-term cooperation with Turkish companies in the development of Iraq’s oil fields, production, processing, and mutual investment projects.
