The Jordanian government has announced that Iraq is ready to start construction of an oil pipeline in 2014, that will carry oil from the Iraqi city of Basra to the Port of Aqaba
According to the Jordan Times, Jordanian Prime Minister Abdullah Ensour said Iraq has the blueprints in place and will start implementing the project by the end of January next year.
The two sides had agreed to proceed with the joint project to build a new US$18bn pipeline that will supply Jordan with 120,000 bpd of oil, while ensuring Iraq's crude exports via Port of Aqaba.
The pipeline is expected to become operational by end of 2017.
Iraq also said that it will build huge oil tanks in the port with a capacity of 850,000 bpd for exports.
