Ankara, Aug. 1 (SANA)TürkiyeandIraqsigned a one-year oil agreement on Saturday to transport 750,000 barrels of crude oil per day through the pipeline linking the two countries, with the aim of strengthening global energy supply security.

According to Türkiye’s Anadolu Agency, the Turkish Ministry of Energy and Natural Resources said in a statement that Turkish Energy Minister Alparslan Bayraktar met Iraqi Oil Minister Bassem Mohammed Khudair in Ankara. Following the meeting, Türkiye’s state pipeline operatorBOTAŞsigned a crude oil transportation agreement with Iraq’s State Organization for Marketing of Oil (SOMO) and the North Oil Company.

Bayraktar said the Iraq–Türkiyepipelinesupports the security of global oil supplies. He noted that the pipeline has gained increasing importance as an alternative export route amid challenges affecting maritime traffic through the Strait of Hormuz.

He added that Türkiye aims to make full use of the pipeline’s 1.5 million barrels-per-day capacity, allowing it to transport Iraqi crude as well as future volumes from Kuwait and other Gulf countries to international markets.

The minister said Turkish refineries were designed decades ago to process crude oil from the region, particularly Iraqi crude and Kirkuk oil, which remain key components of the country’s imports.