Iraq signs deal for 2.4 million bpd subsea oil pipeline

Iraq has signed a deal to establish a subsea oil pipeline for exports via its southern ports, the country’s oil ministry said on Sunday.

The project is in cooperation with Italian offshore contractor Micoperi and Turkey’s Esta for a pipeline with a capacity of 2.4 million barrels per day (bpd), the ministry said without providing further detail on the destination of the exports.