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The Basra Oil Company (BOC) announced on Monday that strategic projects for infrastructure, production, and export will be carried out. In a step to boost oil exports, the Iraqi government allocated about $417 million to build a third offshore oil export pipeline. The state-owned BOC signed a contract with Royal Boskalis, a Dutch dredging company providing services related to the construction and maintenance of maritime infrastructure internationally, to build a pipeline with a capacity of two million barrels per day.

Iraq allocates $417 million for new marine pipeline

The Basra Oil Company (BOC) announced on Monday that strategic projects for infrastructure, production, and export will be carried out. In a step to boost oil exports, the Iraqi government allocated about $417 million to build a third offshore oil export pipeline. The state-owned BOC signed a contract with Royal Boskalis, a Dutch dredging company providing services related to the construction and maintenance of maritime infrastructure internationally, to build a pipeline with a capacity of two million barrels per day.

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