Jordan and Iraq signed on Thursday a memorandum of understanding to cooperate in the fields of crude oil and natural gas.
The deal was signed by Jordanian Minister of Energy and Mineral Resources Alaa Batayneh and Iraqi Oil Minister Abdul Kareem Luaibi, includes supplying Jordan with crude oil through an oil pipeline in addition to natural gas, liquefied petroleum gas and heavy fuel oil, depending on their availability, Jordan Petra news agency reported.
Batayneh said during the signing ceremony that the agreement also entails the establishment of higher committees chaired by the two ministers that meet every six month as well as sub-committees headed by secretary generals that meet each three months to hold coordination and consultations on the agreement.
The Iraqi minister said the agreement, the first of kind signed by Iraq, covers all aspects of cooperation in the energy domain with Jordan , noting that the quantities of oil that will be exported through the pipeline that will reach the Aqaba Port, will stand at One Million barrels per day.
The Iraqi minister revealed that the two sides agreed yesterday to increase crude oil exports to Jordan from 10,000 to 15,000 barrels a day.