Turkey, Iraq sign deal to extend use of Kirkuk- Ceyhan pipeline.

By bne IntelliNews September 20, 2010
The governments of Turkey and Iraq renewed the existing contract to extend the use of Kirkuk-Ceyhan oil pipeline for 15 years. According to the renewed deal, the pipeline will transfer annually 20mn tonnes of Iraqi oil to the Turkish port of Ceyhan this year while the volume of transferred oil will be increased to 27mn tonnes in 2001, 32mn tonnes in 2012 and 35mn tonnes in 2013 after that year the pipeline will transport oil at its fully capacity which is annually 70.9mn tonnes. According to daily Sabah Turkey will gain a revenue of USD 7bn from the transport of the Iraqi oil over the next 15 years.
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