According to Kurdistan Press, Syria and Iraq have signed a memorandum of understanding to begin the process of rebuilding and reviving the strategic crude oil pipeline between the two countries, a project that will be implemented with the support of the United States and the participation of an international consortium led by American companies, and is considered one of the most important energy infrastructure projects in the region.According to the official Iraqi News Agency (INA), the agreement aims to rebuild the Iraq-Syria oil pipeline that connects the Haditha route to the port of Banias, and the American company Chevron will be responsible for implementing the project. The pipeline will be part of a new corridor to transport Iraqi oil to the Mediterranean coast.

The US State Department welcomed the agreement, describing it as “an infrastructure project of bilateral and regional strategic importance” and announced that an international consortium led by US companies would be responsible for implementing the technical and financial aspects of the project. The ministry also announced that the initial capacity of the pipeline, after the completion of the reconstruction operations, will be about 2 million barrels of crude oil per day, and this route will connect Iraqi oil to the Mediterranean export markets.According to Iraqi officials, the deal is part of a package of about 50 agreements and memoranda of understanding between Iraq and American companies in the fields of energy, infrastructure, technology, health and communications, worth a total of about $60 billion.

The project comes as Iraq seeks to create alternative routes for oil exports. Experts believe that the revival of the pipeline could strengthen Iraq’s access to Mediterranean ports and increase the country’s energy security and oil exports.