Baghdad, August 01 (QNA) - Iraq and Turkiye on Saturday signed a one-year pact to load and ship Iraqi crude oil via their shared pipeline leading to Ceyhan port.

In a statement, Iraq's Ministry of Oil highlighted that both sides discussed the final module of the pact, affirming that the agreement would only be for one year pending the completion of a comprehensive framework deal that includes electricity, water resources, and oil sectors.

The statement added that the pact contemplates a minimum level of Iraqi crude oil exports of 750,000 barrels per day through a shared pipeline, ensuring continued export flows and strengthening Iraq-Turkiye energy cooperation.

Turkish Minister of Energy Alparslan Bayraktar said a productive meeting was convened with Iraqi Minister of Oil Basim Mohammed Khudair, which conclusively resulted in the signing of a one-year deal between Turkish oil firm BOTAS, Iraq’s state-owned oil companies SOMO and the National Oil Company (NOC), to ensure the optimal use of the Iraq-Turkiye Crude Oil Pipeline.

The move follows the expiration of operations under the previous deal on July 27, 2026, as part of the two nations' efforts to ensure the resumption of oil exports via the Kirkuk-Ceyhan pipeline and boost cooperation in the energy sector.

Following talks with Iraqi Prime Minister Ali Al Zaidi in Ankara last Tuesday, Turkish President Recep Tayyip Erdogan emphasized Turkiye's pursuit of entering into a comprehensive cooperation agreement in the energy domain with Iraq at the earliest possible time.

He pointed out that Al Zaidi proposed supplying Turkiye with one million barrels of oil daily.

Last Tuesday, the two countries agreed to expand cooperation in energy, commerce, and transportation, with both sides declaring plans to double oil flows and move ahead with the implementation of the Development Road, alongside striving to elevate the volume of commercial exchange between the two countries to $30 billion over the medium term. (QNA)