Mashreq Petroleum plans to construct a pipeline to transport crude oil from Port Said to Mostorod refining plant.

In statements made to Al-Bourse, Mashreq Petroleum Chairman Tamer Abu Bakr said that the estimated investment was $ 12 million and that the pipeline will transfer 10 million barrels of crude oil a year, measuring in at 12 inches width.

He explained that the line extending from Port Said, and will be linked to the existing condensate line coming from the Rashid fields that enjoys 750 thousand tons worth of empty capacity. Extended the pipeline should take only 8 months.

Source: Al-Bourse