Iraq has agreed to press ahead with an oil pipeline project with Jordan at an estimated cost of $5.6b, an Iraqi official announced, according to Petra.

On the sidelines of the third edition of Jordan International Energy Summit, the Iraqi Ministry of Oil’s Undersecretary, Dyaa Jaafar, said his country’s government is currently in talks with the company that will carry out the venture in order to agree on technical and financial details, Ammon News informed.

Furthermore, Jaafar indicated that officials from the two countries will meet to review the project’s memorandum of understanding (MoU) and introduce some amendments to it. He added that all preparations and procedures are expected to be completed within the next two months.

In related news, Jordan signed seven new energy agreements and MoU on the sidelines of the third Jordan International Energy Summit. Among the deals was the signing of a MoU between the Jordanian Minister of Energy and Mineral Resources, Ibrahim Seif, and the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla. The agreement states that Egypt will provide expertise in the liquefied natural gas (LNG) field to Jordan.