Iraq, Syria in Deal To Rehabilitate Cross-Border Pipeline Project

Iraq and Syria have signed a Memorandum of Understanding to rehabilitate a cross-border oil pipeline project.

Iraqi News Agency said US energy corporation Chevron would carry out the project that links between Iraq’s Haditha and Syria’s Baniyas.

It added that Baghdad would seal 50 agreements and MoUs with US partners, with a combined value of $60 billion.

Meanwhile, Washington welcomed the move, describing the project as essential to strengthening regional security and stability.

Separately, Chevron announced it had signed a framework agreement with the governments of Iraq and Syria to carry out the project.

It also announced deals with Iraq to advance commercial talks to develop the West Qurna 2 and Nassiriya oilfields.

The agreements are part of a broader effort to strengthen Iraq-US economic cooperation, with partnerships spanning the energy, infrastructure, telecommunications, agriculture and education sectors.

Iraqi authorities said the package of agreements is aimed at attracting investment, supporting economic development and enhancing regional connectivity.