According to CoinMeta, Salim Rikabi, a spokesman for Iraq's Ministry of Oil, stated that after signing the agreement, it may take 2 to 3 years to build a new oil pipeline from Iraq's Basra oil fields to Haditha, and then extend it further to Banias in Syria and Jayhan in Turkey. The pipeline is designed to have a daily oil transport capacity of up to 2 million barrels, with a project cost of approximately 15 billion US dollars.