The governments of Iraq and Syria have signed a central government-to-government memorandum of understanding, alongside separate heads of settlement with Doha-primarily based UCC Concessions, US energy foremost Chevron, and US-based totally TI Capital, to boost a cross-border crude oil pipeline connecting the 2 countries.
The framework, signed at the US Chamber of Commerce in Washington, is aimed to establish a new energy export corridor linking Iraqi crude manufacturing to delivery infrastructure on Syria’s Mediterranean coast. The signing was attended by Mr. Ali al-Zaidi, Prime Minister of Iraq, along side Syrian government representatives.
The agreements set out a coordinated approach to assess, develop, finance and execute an onshore pipeline corridor between Iraqi crude supply and Syrian export facilities, drawing on UCC’s concession-development track record, Chevron’s global infrastructure delivery experience, and TI Capital’s regional investment history. The framework also offers for structured engagement with Iraqi and Syrian ministries, state companies, regulators and technical authorities.
The venture builds at the historic Iraq-Syria oil link and is placed as an option to present Gulf export routes, targeted toward adding resilience to regional energy flows. It is anticipated to be advanced to international technical, environmental, health and safety, protection and financing standards.
A bilateral government working group will coordinate cross-border matters and prepare a definitive intergovernmental framework, while the investor consortium works in parallel on feasibility, bankability and a preliminary financing plan. The very final route, investment structure, timetable and commercial terms remain subject to technical studies, government approvals and definitive agreements.
