Ammon News - AMMONNEWS - The Iraqi government has agreed in principle to press ahead with an oil pipeline project with Jordan at an estimated cost of $5.6 billion, an Iraqi official announced Sunday.

Speaking on the sidelines of the third edition of the Jordan International Energy Summit, Undersecretary of the Iraqi Ministry of Oil, Dya'a Ja'afar, said his country's government is currently in talks with the company that will carry out the venture to agree on technical and financial details.

Ja'afar indicated that Jordanian and Iraqi officials will meet next week to review the project's memorandum of understanding and introduce some amendments to it. He added that he expects all preparations and procedures to be completed within the next two months.