Minister: US, Qatari Firms to Construct Oil Pipeline from Basra to Fishkhabur

Iraqi Oil Minister Basim Khudair said on Wednesday that a consortium of US-based TI Capital and Chevron, as well as Qatar’s UCC, will construct a strategic oil pipeline from Basra to Fishkhabur. He added the new Basra-Fishkhabur oil pipeline is estimated to cost no more than US$15 billion.

In a statement to the state-run news agency (INA), Khudair explained that the project is a network of pipelines that will be extended to the Turkish port of Ceyhan and the Syrian port of Baniyas.

The pipeline network will provide the country with additional export outlets on the Mediterranean, significantly reducing the risks of maritime shipping via the Strait of Hormuz.

Khudair confirmed that Iraq is seeking to establish significant partnerships with major international companies. He noted that the new oil pipelines will provide two additional outlets to enhance export flexibility.

Iraq is attempting to reach major agreements with international oil corporations, which is why American companies have been favored, according to Khudair.

The Iraqi minister noted that Prime Minister Ali al-Zaidi’s recent meeting with US President Donald Trump included important discussions.

Khudair highlighted that a shared understanding exists between Trump and al-Zaidi, who is currently in Washington, to attract international corporations to invest in Iraq.

A country like Iraq, with its vast oil and gas reserves, cannot continue to rely on a single outlet, the Strait of Hormuz, according to Khudair.

“Economic and financial issues were keeping the Iraqi government from completing the pipeline project,” he added.

The Basra-Fishkhabur pipeline project is one of Iraq’s largest strategic energy initiatives, connecting southern oil reserves to the Turkish border.

This massive project provides a critical economic shortcut to reduce Iraq’s reliance on the Strait of Hormuz.